|Market Close||Market Close|
|The UK gas system was well supplied throughout Monday’s session due to lower gas-fired power demand, mild temperatures and strong flows. This contributed to losses on the near curve, although longer dated contracts found some support from a late rally by oil.||Wind levels were expected to decrease today which helped the prompt add to its price yesterday, with a colder weather outlook also lifting the rest of the near curve. Prices further along the curve inched higher in the afternoon following a slight rise in oil prices.|
|Market Open||Market Open|
|Gas prices have moved higher due to rebounding oil markets and overall volatility on energy markets ahead of the US election. Temperatures are also expected to turn colder later in the week which will lift demand, providing additional bullish sentiment.||The power curve mirrors gas this morning, finding support from an increase in oil. The prompt and the rest of the near curve have also been pushed higher by weaker wind levels and a colder weather outlook.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved higher as the next OPEC meeting will discuss a possible 3-month extension to production cuts amid weak global demand.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 37.59ppt and £45.72/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.