|Gas prices moved down during yesterday’s session thanks to an oversupplied system, with the more significant losses seen on the prompt and winter contracts. Contracts further along the curve also decreased, although a rebound on fuel markets offered resistance.
|Sentiment on the power curve was bearish on Monday with an expected rise in wind generation helping the prompt record a strong loss. Weaker carbon prices helped to weigh on far-curve contracts, although coal and oil rebounded slightly.
|The system has fallen slightly short this morning due to a drop in Norwegian flows and LNG send-outs. This has helped to support the near-curve, although the prompt has shed from its price thanks to milder weather and a drop in CCGT demand, while fuel markets offer little direction to the far-curve.
|Power prices display mixed movement this morning with a mild weather outlook pressuring down contracts at the front of the curve, while the far-curve found direction from stable-to-bullish fuel markets. The prompt displays another loss as wind levels are set to improve further tomorrow.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small rebound this morning although the increase is thought to be a technical one as the overall context for oil remains bearish; Brent currently trades around $60.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial increased – closing at 60.35ppt and £59.10/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.