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.
While the demand for gas continued to increase yesterday, the drop in domestic production in the UK combined with a drop in Norwegian flows led to a tightened UK gas system. This resulted in high storage withdrawals to balance the system. Cold weather is expected to support European gas demand and prices today.
Thursday saw the publication of the Energy Bill; which revealed good news to energy-intensive industries such as chemical and steel production. It also set out 'increased subsidies' for renewable sources, which will be paid for from household bills, the Telegraph has reported.
We could see up to 30 new gas-fired power stations running in Britain by 2030 under an expansion of generation plans revealed later this week.