|Market Close||Market Close|
|Gas prices moved down during Tuesday’s session as the system remained oversupplied despite an increase in demand. Supply levels were comfortable, contributing to the long system, with healthy Norwegian & LNG flows.||Power prices displayed losses yesterday with direction provided by their weaker gas counterparts, although some support was provided by a rebound in coal & carbon credits. The prompt also moved down as renewable levels were expected to increase slightly today.|
|Market Open||Market Open|
|The UK gas system remains long this morning but movement along the gas curve is stable, with some bullish resistance provided by an increase in carbon and power prices. The supply outlook remains very healthy with a further 11 LNG cargoes expected to dock in Europe over the next fortnight.||Power prices have found support from an increase in commodity markets this morning, with carbon & coal displaying further gains. Political factors could also dictate movement on the power market in the coming weeks, with another Brexit pushback and a planned snap election expected to affect the Pound.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are barely changed from yesterday’s open as the increase in US stocks was not as significant as initially expected; the latest figures are expected to be published this afternoon.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved higher, while commercial electricity recorded a loss – closing at 45.37ppt and £50.39/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.