|Market Close||Market Close|
|A colder weather outlook for the weekend and the start of this week, combined with low renewable power generation offered support to the prompt and near curve gas prices on Friday, as demand levels were forecast to increase strongly.||Power prices found some support from rising gas, with weak wind generation and cold weather lifting reliance on fossil fuels. Further out, movement was more subdued as commodities were stable to bearish.|
|Market Open||Market Open|
|Gas prices display strong losses this morning, particularly on the near curve where March-21 has become the new front-month contract. The expectations of 5 LNG cargoes arriving in the UK over the next fortnight is the main factor behind today’s bearish sentiment.||Demand levels remain high today and wind levels are low; however, an improvement is expected tomorrow which has resulted in a loss on the prompt. Improved LNG send-outs have also contributed to downward movement on the near curve, while fuel markets are down again this morning.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has opened slightly higher this morning but remains down on Friday’s open, production cuts in Saudi Arabia have helped to offer some support over the weekend.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 45.83ppt and £54.80/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.