10th May 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Calmer commodity markets and a milder weather outlook for the weekend and the start of this week resulted in downward movement across the gas curve on Friday. Improved renewable power generation was also expected, reducing CCGT demand. Power prices eased down, following gas and the overall energy complex which calmed slightly following a bullish week. The forecast for weather fundamentals was also healthier for the coming days.
Market Open Market Open
Gas prices have opened strongly this morning, following bullish carbon and oil markets. Unplanned outages in Norway have also lifted the front of the curve, with another cooler spell forecast for later in the week which is expected to increase demand. Power markets are also bullish this morning, following rising carbon, oil and gas. Wind levels are expected to fall tomorrow, with colder weather also anticipated later in the week, helping to lift the prompt and the rest of the near curve.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent Crude has strengthened this morning as a cyber attack in the US resulted in the shut down of a number of oil pipelines. However, the Indian COVID-19 situation continues to offer resistance.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 60.21ppt and £70.71/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

energy price graph - 10-05-2021

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.