|Market Close||Market Close|
|A significant rise in wind levels yesterday resulted in a drop in CCGT demand, while residential demand was reduced by milder weather. Meanwhile, the outage at Oseberg was resolved, resulting in a rise in imports to the UK. This increase in Norwegian flows, combined with improved UKCS production contributed to a long system and prices along the near-curve moved down.||An expected drop in wind levels helped the prompt climb higher yesterday, although the rest of the near-curve was pressured down by a mild weather outlook for the remainder of the week. Further out, coal and oil markets remained bullish, limiting any losses.|
|Market Open||Market Open|
|A drop in wind generation has increased CCGT demand today, although overall supply levels remain healthy, helping towards losses at the front of the curve. Residential demand is also slightly higher but imports via the IUK pipeline remain strong. Meanwhile, contracts on the far-curve display small gains as a result of high oil prices.||Day-Ahead power has added to its price once again as colder temperatures are expected tomorrow and wind generation is forecast to fall further. Movement along the rest of the curve is mixed, with stable oil prices and weaker coal helping some contracts shed from their price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices remain close to a 32-month high and show little change from yesterday’s open on the back of supply disruption and geopolitical issues.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a small gain – closing at 49.11ppt and £47.68/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.