|Market Close||Market Close|
|Gas prices increased during Tuesday’s session, taking direction from a colder weather outlook and increasing oil. Meanwhile, a weaker wind generation forecast helped the prompt add to its price.||Power prices followed their gas counterparts and were generally bullish during yesterday’s session. An expected drop in renewable power today helped to lift the Day-Ahead contract, with winter temperatures offering support to the rest of the near curve.|
|Market Open||Market Open|
|The UK gas system remains very well supplied this morning, although the demand outlook is stronger, with colder weather and additional home working lifting LDZ demand. Prices are generally supportive, helped by a recovery on oil markets.||A drop in wind levels has increased reliance on gas-fired power, with a further reduction in renewable availability tomorrow, helping to lift the prompt and the rest of the near curve. Further out, prices have been pushed higher by a rise in commodities.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed back above $40/b, with bullish sentiment provided by a possible extension to OPEC-led production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a small loss, closing at 37.78ppt and £45.70/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.