|Market Close||Market Close|
|Gas prices were generally stable on Friday with the morning's losses erased by increases on the power market in the afternoon. Bearish Brent helped to restrict some of the upward movement on the far-curve, while news regarding a potential rise in Russian flows to Europe also limited gains.||Temperatures are set to fall below average for the first half of November which will lead to a rise in consumption, with restrictions on French nuclear supply over winter still a supportive factor. Weaker wind generation for this week helped the prompt move higher, while rising coal helped far-curve contracts to close at a premium.|
|Market Open||Market Open|
|The UK gas system is slightly oversupplied this morning but a higher demand forecast has offered support to the near-curve due to an expected drop in temperatures; weaker wind power should also contribute to a rise in CCGT generation. LNG supply is stronger this morning but Norwegian flows are currently 57mcm below full capacity, while a weaker Pound has supported contracts further out.||Power contracts have found support from a rising gas market, while a colder weather forecast and an expected drop in wind levels have offered further support to the prompt. Further along the curve, prices have been pressured higher by stronger APi2 coal and a weaker Pound.|
Brent 1st-nearby prices have recorded a loss this morning due to pessimism in regards to on-going freeze deal negotiations; Brent currently trades just below $49.6/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 46.92ppt and £49.78/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.