|Market Close||Market Close|
|A tighter supply forecast for the start of May and expectations that temperatures will sit below the seasonal norm for the next week at least helped towards gains across the near gas curve on Friday.||UK markets were closed yesterday due to the Bank Holiday, with prices generally closing higher at the end of Friday’s session. A higher demand outlook for gas due to colder weather, combined with bullish carbon and oil contributed to the bullish sentiment.|
|Market Open||Market Open|
|Gas prices have opened strongly this morning, taking direction from the wider commodity complex, with carbon allowance contracts continuing to reach new highs. Colder weather and a significant drop in LNG send-outs has tightened the system but this has been offset by high wind generation, reducing power demand.||Wind levels are very high this morning, reducing demand for gas-fired power. However, weaker levels are forecast for tomorrow, combined with below average temperatures, helping to lift the prompt. Meanwhile, the rest of the curve has followed rising carbon, gas and coal.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude is little changed from the end of next week, caught in between the COVID-19 situation in Asia and OPEC’s prediction of strong growth for global oil demand this summer.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 57.47ppt and £67.56/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.