|Market Close||Market Close|
|A drop in LNG send-outs was expected to be offset by an increase in wind generation yesterday, limiting gains on the prompt. The rest of the near curve was generally stable, with a cold weather outlook offering resistance.||Wind levels were expected to increase strongly today, resulting in a loss on the prompt, with the decreases filtering through to the rest of the near curve. Longer dated contracts were pushed higher by stronger carbon markets, while oil also displayed gains.|
|Market Open||Market Open|
|The UK gas system has fallen short for the first time this week and demand levels are expected to increase further as temperatures are set to drop to 0°C over the coming week. This has contributed to gains on the near curve, while bullish oil supports contracts further out.||The prompt displays a huge gain this morning as weak renewable generation and freezing temperatures are set to lift consumption levels significantly, combined with tighter gas supply. Further out, prices continue to take support from rising oil and carbon, although coal has posted a loss.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has increased this morning as OPEC and Russia have agreed to a small reduction on top of current production cuts, offering additional support to oil markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity recorded a strong gain, closing at 38.22ppt and £51.56/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.