|Market Close||Market Close|
|Gas prices displayed mixed movement during yesterday’s session, initially opening at a discount before rebounding in the afternoon and ending the day almost unchanged. Bullish pressure was provided in the afternoon by upward movement on commodity markets.||Near-curve power prices displayed losses during Wednesday’s session on the back of cooler temperatures and improved renewable generation. Further out, movement was generally bullish with direction provided by stronger gas and coal.|
|Market Open||Market Open|
|The UK gas system remains close to balance this morning as demand levels are down due to improved renewable power generation. Norwegian flows have decreased further due to maintenance, while LNG send-outs are stable. Fuel markets show little movement and gas prices are practically unchanged as a result.||Power prices are little changed this morning with fuel markets failing to offer support in either direction. Meanwhile, renewables have improved further which has weighed on the prompt and traders are now casting their eye on Brexit developments which could cause significant price shifts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed above $60/b following a surprise drop in US crude inventories; forecasts suggested a 2.1 million barrel decrease but the actual figure was around 10 million barrels.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.28ppt and £49.85/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.