|Market Close||Market Close|
|The outlook for gas was little changed on Tuesday, with cold temperatures expected to continue over the coming weeks and an on-going recovery on the oil market, which both contributed to gains across the curve.||Power displayed a similar trend to gas yesterday with the market dictated by strong demand and some supply constraints. Carbon EUAs also showed strong upward movement, as did oil contracts.|
|Market Open||Market Open|
|Gas prices have opened higher once again this morning, with the larger gains displayed at the front of the curve. The system remains slightly oversupplied but demand sits 70mcm above the seasonal average due to freezing temperatures and weak wind generation.||Power prices remain bullish at the start of the session, with weak renewable generation and high consumption levels lifting spot prices. However, improved wind levels are expected tomorrow which has weighed on the prompt. Further out, prices have been pushed higher by rising carbon and oil.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has climbed to around $54.3/b as US crude stocks were lower than expected in the latest report and Saudi Arabia and other OPEC+ nations have agreed to additional production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher, closing at 46.35ppt and £55.68/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click to enlarge graph
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.