|Market Close||Market Close|
|Gas prices moved down yesterday afternoon with a drop in carbon weighing on the far-curve. In terms of shorter dated contracts, bearish pressure was provided by warmer weather and improved renewables which reduced demand.||Power prices followed their gas counterparts and displayed losses yesterday, with weaker coal and carbon the main market drivers. Wind levels are also expected to ramp up next week which will reduce demand for gas, while solar should remain stable.|
|Market Open||Market Open|
|Sentiment on the gas curve is unchanged this morning as carbon and coal display further losses. Short term fundamentals are also little changed, although temperatures are expected to drop off next week but will remain around the seasonal norm in the UK.||Coal, gas and carbon markets have decreased further, while the oil market is more resilient. As a result, power prices have opened at a discount despite higher cooling demand due to warm weather.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are stable this morning following a sharp rise yesterday due to weak US inventories. Meanwhile, the G20 meeting has begun in Japan today which should provide fresh insight into US/ Chinese trade deals.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.28ppt and £53.25/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.