|Market Close||Market Close|
|An oversupplied system and a healthy LNG outlook resulted in losses across the near gas curve during Wednesday’s session. Further out, fuel markets offered support, with oil markets increasing for the third session in a row.||A colder weather outlook helped some power contracts to close higher on the near curve yesterday, although stable wind generation kept a lid on the prompt. Meanwhile, a bullish oil market continued to offer support further out, with coal and carbon also trading higher.|
|Market Open||Market Open|
|Gas prices have opened higher this morning as cold weather is expected to return to the UK next week, with temperatures potentially dropping to 5/6°C below average, resulting in the highest demand levels so far this winter.||Power prices have moved in the opposite direction to gas and erased some of yesterday’s gains at the start of this session. However, wind levels are set to decrease tomorrow, helping the prompt add to its price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has added $1/b to its price since yesterday’s open as sentiment is unchanged, with the market still feeling the effects of an unexpected decline in US storage.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity moved down, closing at 46.94ppt and £55.38/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.