|Market Close||Market Close|
|There was a significant increase in European gas prices on Friday, both on the spot and on the curve. This was on the back of rising demand due to colder weather. Additional support was provided by bullish oil and coal prices.||Cold temperature forecasts drove spot and short-term power prices upwards on Friday, with a general move from fuel and power prices. On the far-curve, most power contracts rebounded on the back of higher coal, gas and emissions prices, influenced by short-term fundamentals and weather forecasts.|
|Market Open||Market Open|
|Temperatures are expected to remain significantly below normal in most North West Europe countries until early December at least, which should support heating demand and continue to exert a bullish pressure on spot and near curve prices. The trend should remain bullish for far curve prices too although profit taking could limit gains.||Coal prices are likely to increase further today, following a steep rise in Chinese coal futures overnight, there could be again a bullish pressure for forward power contracts. Strong wind forecasts were also relatively bearish today for the day-ahead with a peak level expected today.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have slightly increased by $0.06/b. The main support coming from the OPEC meeting on Thursday when a decision is due to be made on deal extension. The closure of keystone KL pipeline also brings local support to the American crude; Brent currently trades at $63.67/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas has decreased, whilst commercial electricity has seen a marginal increase – closing at 49.47ppt and £47.95/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.