|Market Close||Market Close|
|Gas prices climbed higher during yesterday’s session on the back of reduced LNG send-outs and a cold weather forecast for January. A rise in oil and carbon also contributed to gains on longer dated contracts.||Power followed gas and moved higher, with the prompt the only contract to record a loss as demand and renewable generation was expected maintain similar levels today. An increase on carbon markets was also a supportive factor for power contracts.|
|Market Open||Market Open|
|Gas prices have moved down this morning following news of a 3rd national lockdown in the UK, reducing demand for energy. Oil prices have also declined, applying additional bearish pressure to the back of the curve.||Cold weather and an expected drop in wind generation has resulted in a significant gain on the prompt this morning, with greater reliance expected to be placed on gas-fired power. However, the rest of the curve has weakened following news of an immediate lockdown.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has dropped below $51.1/b as news of new lockdown measures across the world have reduced demand forecasts, although OPEC production cuts continue to provide support.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity climbed higher, closing at 45.99ppt and £55.35/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.