|Gas prices were mixed yesterday, showing higher values on the curve but lower on the spot. On the far curve, the rise in oil and EUA prices was slightly offset by the sharp fall in coal prices.
|Prices for power delivery today converged towards high levels. Wind power set to rise in France and Belgium however the total output will remain limited, along with nuclear availability. On the far curve, power prices reached new records. The strong increase was again due to coal prices which jumped to a new high.
|Profit taking could finally materialise today as the weakness of spot prices could affect the near curve. Further out, coal prices could rebound and offset the bearish impact of profit taking.
|We could see emission prices move further today after reaching a new 10 year high at the close yesterday. Lack of wind power and rain will continue to support power prices on the spot market.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent moved up yesterday, still being pulled by Iran looming around sanctions. Brent is seen reaching $80/b in the short term.
1-year forward prices
Market close data revealed that the 1-year forward price for commercial gas decreased – closing at 66.98ppt, whilst commercial electricity slightly increased at £65.60/MWh.
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Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
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.