|Market Close||Market Close|
|Higher Gas-fired power demand offered some support to gas prices yesterday, although mild weather kept a lid on residential demand. LNG flows were at capacity and storage levels are full as we head into the winter months. Meanwhile, a recovering oil market helped to lift the far curve.||A comfortable supply/ demand outlook for this week helped to weigh on the near curve yesterday, although limited wind generation limited losses on the prompt. Movement further out was mixed as coal and oil markets moved in opposite directions.|
|Market Open||Market Open|
|Demand levels have declined since last week thanks to continued mild weather which is expected to continue until the weekend. However, low renewable availability has increased CCGT demand and provided some resistance. Further out, movement is largely bearish despite an increase in oil.||Above average temperatures are expected to continue this week, alongside a rise in renewable generation, resulting in a strong loss on the prompt this morning. Another drop in coal has also applied downward pressure at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed to around $42.4/b on the back of news of a 90% effective Coronavirus vaccine following trials which resulted in instant movement on oil markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 38.38ppt and £46.65/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.