|Market Close||Market Close|
|Outages at Norwegian oil facilities limited imports into the UK yesterday, with restrictions expected to continue until the weekend. This resulted in gains across the gas curve, with the drop in temperatures also lifting demand for heating.||Temperatures dropped below the seasonal norm yesterday and the colder spell is expected to last for the remainder of the week, resulting in upward movement on the near curve. The prompt managed to record a strong loss as a considerable rise in wind levels was forecast for today.|
|Market Open||Market Open|
|The gas curve displays additional gains this morning, all be it, less significant ones than yesterday. UK and European storage withdrawals have left stocks below the 5 year average, causing further bullish sentiment, combined with the current cooler period.||Power prices mirror the gas curve, with the majority of contracts displaying an increase. Wind generation is very high at present, almost doubling CCGT’s share of the energy mix, however, a decrease is expected tomorrow and the prompt has climbed higher as a result.|
For a breakdown of the current generation mix visit our Power Generation Insights page
Brent Crude has rebounded slightly and trades close to $68/b as a 13.8 million barrel build in Crude Oil stock was reported in the US yesterday, supporting 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 48.26ppt and £59.66/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.