|Market Close||Market Close|
|Gas prices displayed losses yesterday, both on UK and European markets with a drop in coal, cooler weather and a rise in supply all contributing to a bearish session. However, losses on the continent were stronger than their UK counterparts because of a weaker Pound.||Power prices moved down on Monday with direction coming from a drop in coal and gas, ignoring a rise in carbon. Cooling demand was also down as the heatwave subsided over the weekend, while wind levels are expected to pick up over the week.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning as Norwegian flows have improved and Russian supply into Europe has reduced the need for exports. Wind levels are also higher, resulting in lower gas-fired demand, as a result, gas prices have weakened further.||Gas, coal and carbon markets have stabilised this morning, while oil displays a small increase, offering some support to the power curve. Upward movement on the prompt has been limited by an expected rise in wind power, while a warm weather forecast has lifted Front-Month.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed higher this morning as the US Federal Reserve are likely to cut interest rates for the first time in over a decade; traders have moved their focus to this, instead of unproductive US/ China trade talks.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, commercial electricity moved higher – closing at 48.30ppt and £54.82/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.