|Market Close||Market Close|
|Gas prices were pressured down on the near-curve by a long system, with stronger wind levels weighing on CCGT demand. Temperatures are expected to return to the seasonal norm next week, which offered some resistance, while weaker commodities weighed on the far-curve.||Power prices moved down on Wednesday with direction coming from weakening gas and healthy wind availability, in addition to milder weather which reduced heating demand. Coal and oil markets also eased off, weighing on prices further along the curve.|
|Market Open||Market Open|
|Coal and oil markets remain bearish this morning but gas prices display a rebound with the help of stronger carbon. The colder weather outlook has also offered support to the near-curve, although healthy wind generation continues to reduce the need for gas-fired power.||The colder weather outlook and higher gas and carbon prices have helped to lift power contracts this morning. Strong wind levels are set to continue tomorrow which has led to a loss on the prompt, however, these levels should fall over the weekend.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices remain below $61/b as no reversal to the bearish trend seems imminent. Yesterday’s EIA report provided further downward pressure, however, expected OPEC cuts continue to offer some resistance.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher – closing at 60.30ppt and £59.98/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.