|Market Close||Market Close|
|Near-curve gas prices displayed losses on Friday as temperatures were above the seasonal norm, reducing demand levels in the UK. Coal also moved down which provided additional bearish pressure further along the curve.||Power prices followed the gas market and traded down on Friday, with weakening coal and carbon also contributing factors. Renewable levels were stable which helped the prompt decrease, with a milder weather outlook helped to limit upward movement on the near-curve.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning as Norwegian flows have increased, helping to offset a rise in demand. Storage levels are at full capacity and temperatures are expected to be above the seasonal norm for the start of November. This, combined with weaker coal and carbon has helped towards more losses along the gas curve this morning.||Gas, coal, carbon and feedstocks have all moved down this morning which applied bearish pressure to power contracts at the start of the session. Fundamentals are little changed as improved solar generation has made up for a drop in wind availability.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have eased this morning following gains on Friday and currently trade just above $62/b. Traders now have an eye on the upcoming OPEC meeting in which nations are likely to agree to further production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 45.40ppt and £50.03/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.