|Market Close||Market Close|
|Gas prices increased yesterday ahead of the September contract’s expiry date. Traders looked to strengthen their positions ahead of new delivery dates and most of the gains were technical rather than caused by fundamentals or commodity markets.||Near-curve power prices displayed minor losses yesterday due to weak demand and improved renewables. Gas prices offered some support, limiting the downward movement, while the far-curve moved higher along with commodity markets.|
|Market Open||Market Open|
|The UK gas system has opened 10mcm short this morning due to a rise in demand, with exports to Belgium also increasing by 10mcm. Despite this, gas prices display little change this morning with some bearish pressure provided by a drop in oil and carbon.||Power prices are stable-to-bearish this morning but any losses are minimal, with some downward pressure provided by a drop in coal and oil. However, a colder weather outlook has offered some support to near-curve prices but the prompt displays another loss on the back of healthy renewables.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased with little change to fundamentals, with the return of full production capacity in Saudi Arabia creating bearish sentiment on oil markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 47.09ppt and £52.88/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge
If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.