6th April 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Markets were closed on Good Friday but gas prices moved higher on Thursday due to the cold snap forecast for this week which was expected to test the system. However, healthy supplies and a stronger wind generation outlook offered resistance. The cold weather forecast lifted power contracts before the Easter weekend, although strong wind levels were expected over the weekend and the start of this week which weighed on the prompt.
Market Open Market Open
Gas prices are up compared to their closing levels before the Easter weekend, although trading has been minimal and any moves are minor ones. Despite colder weather the system is 11mcm long as very strong wind levels have reduced demand for gas fired power. Power prices display small gains this morning, except the prompt which has increased strongly as wind generation is forecast to decrease sharply tomorrow. Meanwhile, colder temperatures are expected to continue for the majority of this week, offering additional support to the near curve.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent Crude has opened lower this morning as OPEC members agreed to gradually increase oil production from May onwards, however, it is hoped that this will coincide with improved demand.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 48.88ppt and £58.58/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

energy price graph - 06-04-2021

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.