|Market Close||Market Close|
|Gas prices turned bearish yesterday afternoon despite strong upward movement at the start of the session. The UK system was slightly short due to a rise in exports to Europe following the return of the interconnector pipeline, offering support in the morning. However, contracts were pressured down by a weaker demand outlook and significant losses on the coal market.||Wind levels were forecast to decrease today which helped to push the prompt higher on Thursday. However, losses on the coal and gas markets helped the rest of the curve move down in the afternoon, erasing some of the early morning gains.|
|Market Open||Market Open|
|Gas contracts display further losses this morning as the system has opened long following an increase in Norwegian flows. Supply via the Langeled pipeline rose by 20mm cm/day, while a number of LNG deliveries are expected to dock in the UK next week. Meanwhile, coal has decreased further and the oil market has stabilised somewhat, providing little support.||Wind generation has dropped today but should increase over the weekend and the start of next week, with healthy solar power also expected. This improved renewables outlook has helped to weigh on the near-curve, with falling coal prices contributing to losses further along the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices remained bullish yesterday and trade around $47.8/b this morning as a drop in US production has helped to support the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 41.70ppt and £42.94/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.