|Market Close||Market Close|
|Gas prices moved higher yesterday despite a bearish opening to the session, as increases on the financial markets and an unplanned outage at the Bergermeer storage site in Holland offered support. The UK gas system was oversupplied despite reduced imports from Belgium but this failed to limit the gains at the front of the curve.||Strong residential demand, on-going supply concerns and weak renewable generation led to upward movement on the power curve in yesterday's session. Meanwhile, gains on the gas and oil markets pushed some contracts higher in the afternoon.|
|Market Open||Market Open|
|There has been little change to fundamentals this morning with temperatures expected to turn milder in the next few days, while stable Russian and Norwegian flows have helped the UK system remain long. A sharp increase in oil prices has assisted contracts on the far-curve in moving higher, with bullish movements on the power market resulting in gains on some seasonal contracts.||Power contracts have added to their price once again this morning with cold weather and tight systems in the UK and France supporting the near-curve. Wind generation also remains low which continues to restrict downward movement on the prompt, while stronger Brent has contributed to gains further out.|
Brent-1st nearby prices have increased this morning with yesterday's US election news appearing to have little effect on the market, instead, prices have taken direction from a slightly bullish EIA stocks report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 46.33ppt and £47.30/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.