Apollo Energy publishes a daily energy market analysis, focusing on the gas, power and oil markets including a commentary on how the markets close and open. Our analysis provides insight on how the markets are performing and also considers various factors which could dictate price changes in the future.
The analysis also contains a graph which tracks the one-year forward price of both gas and electricity as well as changes to Brent crude oil.
Spot power prices made gains due to weaker supply levels, a drop in renewable energy production and outages at thermal, nuclear and coal facilities. Norwegian supply levels improved but gas prices were driven by the colder weather which led to higher demand.
Temperatures are expected to fall in the next couple of days which should lead to a sharp increase in demand. The colder temperatures are expected to last until late next week at least which should add support to spot prices.
Spot power prices continue to climb higher due to weak renewable production, solar generation is expected to fall significantly over the weekend and German wind production will also see a significant decrease.