|Market Close||Market Close|
|Gas prices climbed higher during Tuesday’s session despite little movement on coal, oil and carbon markets. Some support was provided by a potential strike at North Sea oil drilling facilities, with cooler temperatures also lifting demand in the UK.||Power contracts were pushed higher by a rise in gas and biomass feedstock prices. However, extremely weak demand for coal continued to apply downward pressure to corresponding contracts, while oil and carbon displayed little change.|
|Market Open||Market Open|
|The system is slightly oversupplied this morning as temperatures are marginally higher, weighing on demand, while supply is unchanged. Temperatures for the weekend and next week have also been revised higher which has capped gains at the front of the curve, while fuel markets provide little direction to the far-curve.||Most power prices display minor losses this morning as coal, oil and gas are slightly down, while carbon is unchanged. Overall fundamentals are almost unchanged, with stable wind levels and an expected rise in temperatures next week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices moved down over the weekend and have since stabilised around $70.1/b. Tomorrow’s EIA report is expected to show a drop in US crude stocks, while US/ Chinese trade war and tensions with Iran are on-going factors.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 50.65ppt and £54.08/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.