|Market Close||Market Close|
|Gas prices continued to display a bearish trend yesterday as temperatures are expected to rise above the seasonal norm in the coming days, weighing on demand, while supply levels are very comfortable. A rise in carbon offered some support but this was offset by weaker coal prices.||Power prices displayed mixed changes during Wednesday’s session with bullish pressure provided by a rise in carbon, while resistance was offered by weaker gas & coal. Upward movement on the near-curve was also limited by an expected rise in temperatures.|
|Market Open||Market Open|
|The UK gas system is still oversupplied this morning with the help of increased Norwegian flows. This has resulted in further losses along the near gas curve, with a milder weather outlook also a factor. Movement along the far-curve is stable, with support provided by a rise in carbon and power.||Power prices display no real direction this morning but a further increase in carbon has contributed to some gains. Meanwhile, coal has decreased further, while healthy renewables has helped to weigh on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased by around $1/b as the latest EIA report showed a strong increase in US stocks which have edged towards record highs; Brent currently trades around $60.6/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.75ppt and £50.06/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.