|Market Close||Market Close|
|Gas prices started the week on a bullish note on the back of a significant rise in demand which tested the system. Flows via the Langeled pipeline were close to capacity but additional storage withdrawals were required to meet demand.||Wind levels decreased significantly yesterday and were forecast to remain low for the coming days, helping to lift the prompt and the rest of the near curve, with a drop in temperatures also a contributing factor.|
|Market Open||Market Open|
|Gas prices have eased down since yesterday’s close despite colder weather lifting demand levels once again and sending the system 5mcm short. Wind levels have also dropped further, lifting CCGT demand but a healthy LNG outlook and strong imports have helped to weigh on prices this morning.||Day-Ahead power displays a strong increase as wind availability is set to remain low and cold temperatures are expected until the weekend at least. Healthy gas supply has offered some resistance, while weaker oil limits gains further along the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has decreased and currently trades below $64/b as there are concerns that this week’s OPEC meeting could result in an increase in production levels by its members.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 44.38ppt and £55.29/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.