|Market Close||Market Close|
|Gas markets decreased during Thursday’s session due to bearish fundamentals. Stocks are nearing capacity earlier than normal this year, while warm weather is reducing demand. LNG deliveries to Europe are also less frequent due to the excess in supply.||Power prices followed gas, coal and carbon markets and traded lower yesterday. Similar levels of renewable generation were forecast for today, while warm weather will continue into next week, weighing on the prompt.|
|Market Open||Market Open|
|A rise in coal and carbon has helped to lift longer dated gas contracts this morning. Meanwhile, sentiment at the front of the curve remains bearish due to low demand, healthy storage levels and comfortable supply.||Minor gains can be seen towards the back of the power curve this morning, taking direction from a rise in gas, coal and carbon. Warm temperatures and improved solar availability continue to weigh on the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade around $35.3/b this morning as markets struggle to break current levels. The US have warned they could impose new policies on China due to fresh tensions in Hong Kong, while traders also await news on whether Russia will increase production.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 30.08ppt and £39.85/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.