|Market Close||Market Close|
|The expected influx of LNG deliveries helped towards losses yesterday, although the current cold spell and very limited renewable power offered resistance as demand is considerably higher than last week’s levels.||Wind and solar levels were forecast to weaken today, while cooler weather will continue to lift heating demand, resulting in a significant gain on the prompt. A healthy outlook in terms of gas supply weighed on the rest of the near curve, while contracts further out followed a bearish oil market.|
|Market Open||Market Open|
|3 LNG deliveries are expected to dock in the UK tonight with a further 10 scheduled to arrive by mid-March. This busy schedule has helped to weigh on gas prices this morning despite a slightly undersupplied system caused by increased demand.||Renewable generation is very weak this morning and the UK is heavily reliant on gas-fired power; however, levels are set to rise tomorrow which has helped the prompt record a strong loss. Near curve prices are generally bearish due to healthy gas supply but temperatures are set to drop below the seasonal norm tomorrow and Friday.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has decreased once again this morning as production is expected to rise by around 500,000 barrels per day if members agree in tomorrow’s OPEC meeting.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 43.62ppt and £55.11/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.