|Market Close||Market Close|
|The UK gas system was short yesterday despite low demand levels, resulting in gains across the near curve. Norwegian flows were rerouted away from the UK due to a drop in Dutch output which was the main reason for the undersupply. Meanwhile, oil contracts increased and the Pound weakened against the Euro, providing additional bullish pressure on the far-curve.||Day-Ahead power moved down yesterday with bearish pressure coming from a warm weather outlook. However, movement along the rest of the curve was bullish with support coming from increases on the gas and oil markets.|
|Market Open||Market Open|
|The system has opened balanced and demand levels are expected to fall tomorrow due to an uptick in temperatures, weighing on Day-Ahead gas this morning. However, the rest of the curve displays gains due to technical rebounds and a rise in Brent and coal.||Near-curve power contracts have added to their price at the start of today’s session with direction coming from stronger gas. The prompt is the exception to the upward trend as demand levels are expected to drop tomorrow and wind power is forecast to increase. The rest of the curve has been pushed higher by a rise in coal and oil contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed higher this morning and now trade just above $51.81/b; disruption at pipelines in Libya and optimism in regards to an extension of the OPEC deal provided the support.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 41.24ppt and £42.76/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.