|Market Close||Market Close|
|Near-curve gas contracts moved down yesterday afternoon following a bullish opening, with a lower demand outlook expected over the Easter weekend and a rise in LNG send-outs helping towards bearish sentiment. Further out, prices found support from a likely cut in production at Groningen, as well as a strengthening coal market.||Renewable generation was forecast to remain weak today, helping Day-Ahead power climb higher, although the expected drop in demand over the long weekend helped the rest of the near-curve inch lower. Meanwhile, bullish coal and carbon markets continued to apply upward pressure further along the curve.|
|Market Open||Market Open|
|The system is 1.9mcm short with demand levels sitting above 300mcm once again due to a drop in temperatures. However, LNG send-outs and South Hook flows are healthy and milder weather is expected tomorrow, helping to cap any gains. In other news, the announcement in regards to the Groningen gas facility is expected this afternoon, with annual production levels likely to be capped at 12bcm.||The prompt has decreased this morning as milder weather is expected over the weekend and wind levels are set to improve. Front-month also displays a small loss but the rest of the curve is generally bullish, with further increases recorded on the coal market ahead of potential miner strikes in South Africa.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displayed little change yesterday and trades at $69.7/b this morning; a bearish EIA report helped to provide resistance, while traders await news of a probable extension to OPEC production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity climbed higher – closing at 49.98ppt and £50.46/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.