|Market Close||Market Close|
|LDZ demand increased slightly, while a drop in wind generation led to a sharp rise in CCGT demand on Thursday. However, any upward movement was offset by comfortable supply levels, despite an expected drop in temperatures in the coming days. Further out, contracts found support from bullish coal and oil markets and increased as the session progressed.||Wind levels were forecast to decrease further which helped the prompt add to its price yesterday. A healthy supply picture for gas helped to restrict any bullish movement on the near-curve despite a colder weather outlook for the next few days. On the far-curve, most contracts were pressured higher by strengthening fuel markets.|
|Market Open||Market Open|
|Flows via the BBL and IUK pipeline remain strong, resulting in a long system which has helped near-curve contracts move down this morning. Cold temperatures are expected at the start of next week, restricting the losses somewhat but milder weather is set to return as the week progresses. Meanwhile, oil prices have stabilised following yesterday’s gains and movement on the far-curve is minimal.||Wind generation has almost halved today resulting in higher gas and coal demand, however, levels are set to rise at the start of next week and near-curve prices have moved down. The expected drop in temperatures provided some support, while a jump in coal prices has resulted in gains at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1-st nearby prices rallied higher yesterday afternoon but the release of higher US production figures have limited the gains; Brent currently trades around $67.4/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a small loss – closing at 49.00ppt and £47.63/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.