|Gas prices inched higher during yesterday's session as cold weather and a weak Pound combined to support contracts across the curve. Temperatures are set to fall well below the seasonal norm for around two weeks, however, the short term outlook is relatively mild.
|Power contracts followed the movement of their gas counterparts on Tuesday with residential consumption set to rise in the coming weeks. Some nuclear supply issues in France also offered support with the Euro continuing to strengthen against the Pound.
|The cold weather forecast for the second half of January continues to support gas contracts this morning with strong demand levels expected during this period. Another increase in coal prices has also pushed contracts higher, while the Pound continues to weaken.
|The power market is again being dictated by a stronger demand outlook due to the impending cold weather across Europe. Weaker nuclear availability in France is also assisting the bulls, in addition to rising coal and gas markets.
Brent 1st-nearby prices have moved down this morning and trade below $54.2/b due to on-going doubts surrounding the impact of OPEC and non-OPEC production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 49.28ppt and £48.55/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.