|Market Close||Market Close|
|The UK gas system fell short on Friday which helped towards gains on the prompt and the rest of the near curve. Oil markets also continued on their bullish trend following a brief period of stability, helping far curve contracts add to their price.||Power prices rallied higher on Friday on the back of weak renewable generation, cold weather and tighter gas supply. Additional bullish pressure was provided by strengthening coal and oil, helping to lift longer dated contracts.|
|Market Open||Market Open|
|Gas prices display mixed changes this morning with losses at the front of the curve and minor gains further out. Temperatures have been revised higher for this week, while wind generation is also expected to increase, helping to pressure down prompt prices.||Day-Ahead power displays a strong loss this morning as wind generation is expected to ramp up tomorrow, while temperatures are set to rise above the seasonal average. The near curve is generally bearish, while the far curve finds support from rising oil, coal and carbon.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays another increase this morning as sentiment across oil markets is unchanged, dictated by production cuts and the roll-out of a COVID-19 vaccine in the UK.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a loss, closing at 37.76ppt and £48.78/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.