|Market Close||Market Close|
|The UK gas system was undersupplied yesterday due to limited supply from Norway, offering some support to the near-curve. The latest weather forecasts also pointed towards a drop in temperatures as we approach the end of January. Meanwhile, far-curve prices moved higher as commodity markets were supportive.||Near-curve power prices eased down during Thursday’s session, pressured down by their gas counterparts. Further out, movement was largely bullish and followed increases on coal and carbon markets.|
|Market Open||Market Open|
|The system remains short this morning and requires storage injections which will remove some of the current surplus. Oil continues to correct downwards but coal and carbon have strengthened which has contributed to gains across the gas-curve.||Commodity markets continue to strengthen this morning, with the exception of oil which has contributed to further gains on the power curve. A possible drop in temperatures later in the month has also offered support, with wind levels expected to remain weak at the start of next week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices remain stable-to-bearish this morning as tensions in the Middle East have eased; Brent currently trades around $65.4/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity displayed a gain – closing at 36.92ppt and £43.95/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.