|Market Close||Market Close|
|Gas prices decreased yesterday as a mild start to December is expected and wind levels are set to improve as we head towards the weekend, reducing reliance on gas-fired power. Further bearish sentiment was also provided by a drop in coal and carbon.||Power prices were pressured down by weaker gas, coal and carbon markets during Tuesday’s session. A mild and windier weather outlook also helped to weigh on the front of the curve and contracts were close to erasing last week’s gains.|
|Market Open||Market Open|
|The UK gas system has opened balanced this morning as Norwegian flows and LNG send-outs are healthy. Gas prices display little movement as minimal direction has been offered by commodity markets and weather forecasts are unchanged.||Commodity markets are stable this morning, with coal, gas and oil opening almost flat which has been mimicked on the power curve. Meanwhile, a mild weather forecast continues to limit upward movement on the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased overnight due to expectations of further OPEC cuts in an attempt to support the market, with the backing of the IEA; Brent currently trades around $63.4/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased slightly – closing at 44.45ppt and £49.08/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.