|Market Close||Market Close|
|Gas prices displayed mixed changes yesterday afternoon with some bullish sentiment provided by a drop in Norwegian flows and a recovery on the oil market. An outage at Kollsnes reduced flows into the UK but milder weather continued to weigh on residential demand, helping towards losses across the near-curve in the morning.||A rebound in oil prices helped some power contracts recover from their morning losses yesterday. An expected drop in temperatures today helped the prompt add to its price, although wind levels were expected to be unchanged. The rest of the curve was largely bearish, with healthy gas supply and a milder weather outlook the main factors behind this.|
|Market Open||Market Open|
|A drop in temperatures has lifted LDZ demand this morning, the biggest Day-on-Day increase in 5 years. However, the system remains slightly long due to comfortable supply levels, resulting in losses across the near-curve, with temperatures also expected to turn milder next week. Contracts at the back of the curve have also moved down despite stronger coal and oil markets.||Cold weather has increased heating demand this morning but wind levels remain strong. Movement along the curve is generally bearish with slightly higher temperatures expected next week, while rising coal and oil contracts have limited downward movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent prices have rebounded back above $62.5/b this morning following a downward trend in the previous four sessions which saw the benchmark fall by around $3/b. The rebound is thought to be a technical one as general fundamentals are unchanged.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.78ppt and £45.99/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.