|Market Close||Market Close|
|Prompt gas prices stabilised yesterday afternoon following early morning losses, although some far-curve prices found support from a rise in Brent. The return of the interconnector resulted in an increase in exports to mainland Europe but the UK system remained oversupplied despite higher gas-fired power demand.||Power prices at the front of the curve decreased on Thursday, while those further out displayed small gains due to an increase in APi2 coal and a bullish oil market. Near-curve prices followed their gas counterparts, with a slight rise in wind levels expected today, helping the prompt record a loss.|
|Market Open||Market Open|
|Exports to mainland Europe continue to increase this morning but the system is still balanced, helping gas contracts on the near-curve shed from their price. Warm temperatures continue to weigh on residential demand but renewable power remains weak, lifting CCGT. Meanwhile, bearish movement at the back of the curve has been limited by stronger fuel markets.||The prompt has moved down further this morning thanks to a healthier renewable outlook, although the rest of the curve displays mixed movement. Weaker gas and carbon prices have helped to weigh on some near-curve prices, while the back of the curve continues to follow coal and oil markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays a further gain this morning, trading above $77.8/b with direction coming from the recent EIA report and some supply issues.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity increased slightly – closing at 57.05ppt and £56.05/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.