|Market Close||Market Close|
|A new outage at the Rough storage facility will reduce withdrawals by 13mcm/ day until the 13th of January; helping towards gains on the gas curve yesterday. Strong upward movement on the coal market provided additional bullish pressure, with a cold weather outlook pushing demand levels higher.||Contracts on the power curve were supported by rising gas and coal yesterday, with a colder weather forecast for the second half of January also assisting the bulls. Temperatures are expected to be mild at the end of this week but wind levels are expected to decline further.|
|Market Open||Market Open|
|The Dutch government is expected to release news regarding production at the Groningen gas facility at 2pm which has provided some volatility this morning. Meanwhile in the UK, the gas system is oversupplied despite strong demand which has limited gains at the front of the curve. However, issues at the Segal terminal in Norway and a stronger Euro has restricted any downward movement.||Power contracts have followed the upward movement of gas again this morning, with strengthening coal and oil markets also helping to drive prices higher. Below average temperatures are expected next week which will raise consumption levels and wind generation is rather weak.|
Brent 1st-nearby prices moved higher yesterday evening following a strong loss in the previous session and now trade close to $56.4/b. A weaker US Dollar and stronger economic indicators were the main factors behind the slight increase.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 47.95ppt and £47.92/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.