|Market Close||Market Close|
|Gas prices decreased on the last day of 2019 as a transit deal was finalised between Ukraine & Russia, while temperatures were above the seasonal norm, weighing on demand. The Day-Ahead contract traded below 30p/th as the overall energy complex weakened, with the exception of Brent.||Healthy wind levels, lower demand and weaker carbon prices helped to apply bearish pressure across the power curve at the end of 2019. Mild weather is expected to continue according to short term forecasts which should keep a lid on prices for the time being.|
|Market Open||Market Open|
|Gas contracts have rebounded this morning despite the system opening 35mcm long. The increases are largely technical as mild weather is expected over the next week or so which will continue to reduce demand levels.||Power prices have weakened further this morning as CO2 contracts display another drop. Wind levels remain consistent and moderate temperatures are keeping demand levels low – as it stands there is very little to support the market in terms of fundamentals.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down this morning and trade around $66/b. Global growth for oil markets is expected to be slow, while further bearish pressure was provided by strong US shale production.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 36.55ppt and £44.00/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.