|Market Close||Market Close|
|Cold weather continued to support the gas curve yesterday as demand levels were above the seasonal norm. Rising coal prices also offered support to the far-curve in a bullish session. Temperatures are set to remain below average next week and the short-term LNG outlook is weak.||Higher heating demand and strengthening coal helped power contracts to increase on Wednesday. An improved wind outlook for today slightly weighed on the prompt, while a drop in oil prices provided some bearish resistance at the back of the curve.|
|Market Open||Market Open|
|Wind levels are expected to remain rather low over the next fortnight which will result in higher CCGT demand, helping towards gains this morning. However, the gains were limited by a long system as demand levels are currently around the seasonal average, despite cold temperatures. Meanwhile, upward movement further along the curve was capped by a drop in Brent.||A weak wind forecast has contributed to bullish movement on the near-curve this morning. Rising coal prices also continue to apply upward pressure to the curve, with stronger EUA contracts also a supportive factor.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices decreased yesterday following the release of EIA report which displayed some bearish figures, however, prices still remain above $60/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.74ppt and £45.97/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.