|Market Close||Market Close|
|Residential demand in the UK rose by 22% on Monday due to below average temperatures, leading to gains across the near curve in the morning. However, Brent recorded another loss and flows from Norway and Holland were comfortable, helping to weigh on gas contracts in the afternoon. Meanwhile, two additional LNG deliveries could dock in the UK this month which may have helped towards some of the losses.||Significant gains were observed across the power curve on Monday with weak generation levels, higher demand and on-going supply fears over the winter period all providing strong support. The Day-Ahead contract was the morning's biggest mover by quite some margin, adding over £120/MWh to its price!|
|Market Open||Market Open|
|Temperatures are expected to turn milder in the second half of November which has pressured down some gas contracts this morning. The UK gas system also opened long, despite strong residential demand as a result of healthy imports and higher LNG send-outs. However, increases on the coal, oil and power markets have helped to restrict some of the bearish movement.||UK power contracts have decreased this morning but still remain at high levels, with direction coming from the French market which is supported by outages at nuclear facilities. The cold weather that is currently being experienced in the UK and weak wind generation are also factors behind high prices on the near-curve.|
Brent 1st-nearby prices corrected upwards yesterday following losses in the previous six sessions. The rebound was a technical one as fundamentals are largely unchanged, although there will be some focus on tonight's elections in the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 45.65ppt and £47.12/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.