|Market Close||Market Close|
|Gas prices decreased during Tuesday’s session on the back of an oversupplied system and a slight upward revision in temperatures for next week. Supply levels were healthy and helped the system cope with a rise in demand, while bearish movement on the oil market helped to weigh on the far curve.||Power prices were dictated by falling gas and oil contracts yesterday, although a cold weather and low wind generation outlook for today helped the prompt close at a premium. An expected rise in temperatures next week created additional downward pressure on the near-curve, while a rebound in coal limited losses further out.|
|Market Open||Market Open|
|The gas curve displays further losses this morning with a milder weather outlook continuing to apply downward pressure to the front of the curve, while the system remains long due to ample supply. Further out, prices continue to take direction from weaker oil prices, with a stronger Pound also contributing to the downward trend.||The outlook is generally unchanged today and power contracts have decreased further. A milder weather forecast for next week and an expected rise in wind generation tomorrow helped to pressure down the near-curve, while contracts at the back of the curve followed weaker Brent.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased this morning as Russia are unlikely to agree to production cuts in tomorrow’s OPEC meeting and recent figures released in the US show another rise in crude stocks; Brent currently trades just above $62.9/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.33ppt and £47.19/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.