| Gas | Power |
| Market Close | Market Close |
| Gas prices rose across the curve on Tuesday as Norwegian flows into the UK remained low due to an outage at the Gjoa platform, offering support to the near-curve. Further out, contracts were pushed higher by gains on the coal and oil markets. In other news, the production quota at the Troll gas field was increased to 36 Bcm for next year, a rise of 3 Bcm. | Norwegian flows are slightly higher today despite the ongoing outage, while the LNG outlook is more positive with three deliveries expected to dock in the UK next week. Demand is also lower due to a rise in wind levels and the prompt is expected to fall over the course of today. The rest of the curve has opened at a premium but losses are expected when the latest EIA report is published this afternoon. |
| Market Open | Market Open |
| Power contracts tracked their gas counterparts yesterday and the majority closed at a premium, with gains on the oil market also a bullish factor. Cooler weather weighed on consumption levels but above average temperatures are forecast to return next week. | Power prices display steady upward movement this morning as wind generation is expected to fall as we head towards the weekend. However, warmer weather is set to return which will lead to a rise in solar power. Coal prices have also strengthened, supporting the far-curve, although a bearish oil outlook could contribute to losses in the afternoon. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
|
Brent Summary Brent 1st-nearby prices display further gains this morning despite bearish fundamentals as the market attempts correct itself following last week’s losses. Traders await the release of today’s EIA report which is expected to result in downward movement, as it has for the previous five reports. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 42.13ppt and £43.08/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.