|Market Close||Market Close|
|Gas prices were pushed higher during Monday’s session as a cold weather outlook and reduced renewable power is set to tighten the gas system over the coming week. Further gains on commodity markets also helped the far curve to strengthen.||Power contracts mirrored gas and displayed gains across the curve during yesterday’s session. A relatively stable renewable generation forecast for today helped the prompt record a small loss, while stronger fuel markets lifted longer dated contracts.|
|Market Open||Market Open|
|Sentiment is largely unchanged this morning, with a drop in temperatures over the next fortnight and limited wind generation helping to lift the near curve, although the system remains oversupplied for the time being.||The UK’s supply flexibility is set to be challenged over the coming weeks as weaker renewable generation and colder temperatures will lift demand for more traditional generation methods. Prices have moved up on the back of this tighter supply picture, with rising coal and gas offering additional support.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent crude displays a loss this morning as the OPEC meeting was adjourned with members failing to agree on an extension to production cuts, with further talks scheduled for today.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher, closing at 39.43ppt and £48.88/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.