|Market Close||Market Close|
|Gas prices moved down yesterday with bearish pressure coming from the EU’s decision to grant Gazprom access to additional capacity on the OPAL pipeline. Coal prices also corrected down but the losses were limited by stronger Brent and a short system, as Norwegian flows remained low.||Power prices decreased yesterday with direction coming from weaker coal and gas markets. Wind generation is expected to improve after Wednesday, although solar will be limited due to cloud cover. A rebound in oil prices offered some support on the far-curve but the overall trend was bearish.|
|Market Open||Market Open|
|Norwegian flows into the UK are still restricted by 6.5mm cm/day due to the outage at Kollsnes but an expected rise tomorrow has helped to weigh on the near-curve this morning. The outlook remains stable-to-bearish but a warmer weather forecast for the remainder of the summer could lift demand for gas-fired power.||The power curve displays little movement this morning with an expected rise in wind levels being offset by lower solar power. However, nuclear generation is set to improve and the Pembroke 11 CCGT station is scheduled to return today, contributing to minor losses at the front of the curve. Further out, an increase in oil prices has helped some contracts post a small gain.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have rebounded this morning following an announcement that Saudi Arabia would reduce exports and OPEC proposed further production cuts into 2018. However, Nigeria and Libya have been allowed to increase their output for the time being, restricting the upward movement.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased slightly – closing at 41.39ppt and £42.50/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.