30th August 2016 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas contracts moved higher on Friday ahead of planned maintenance work at Norwegian facilities which will limit imports into the UK. A rebound in oil prices also offered additional support further along the curve, while movement on the prompt was limited by a weaker demand forecast over the bank holiday. The majority of power contracts displayed an increase on Friday with support coming from rising gas, coal and oil markets. However, consumption was expected to fall over the bank holiday weekend which helped to limit downward movement on the prompt.
Market Open Market Open
Losses can be observed across the gas curve this morning with improved supply and weakening Brent the main factors behind the downward movement. The UK gas system has opened 6.2mcm long this morning on the back of increased UKCS production which has helped to weigh on the prompt.   Power contracts have mirrored movement on the gas market this morning and prices across the curve have moved down. An expected rise in wind generation this week has helped to pressure down the prompt, while a decrease in APi2 coal has contributed to losses on the far-curve.

Brent Summary

Brent 1st-nearby prices posted small losses yesterday and currently trade just below $49.4/b as the market is relatively stable with no significant change to fundamentals over the bank holiday weekend.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas displayed a small increase, while commercial electricity decreased - closing at 38.83ppt and £42.22/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

energy price graph - 30-08-2016

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