|Market Close||Market Close|
|Wind levels were expected to rise today which will reduce the need for gas-fired power generation, helping Day-Ahead gas decrease yesterday. Cold temperatures are set to hit the UK next week which fuelled bullish sentiment on the rest of the near curve. At the back of the curve, the majority of contracts were pushed higher by rising Brent and a weaker Pound.||Wind generation was forecast to improve today which helped the prompt record a strong loss, although a cold weather outlook helped the rest of the near curve move in the opposite direction. Further out, a drop in coal prices helped to limit any increases caused by a weak Pound and a bullish oil market.|
|Market Open||Market Open|
|Temperatures are expected to fall below the seasonal norm next week which will increase LDZ demand, contributing to gains on the near-curve this morning. However, wind levels are expected to remain healthy, capping the upward movement somewhat. Meanwhile, oil prices remain bullish offering some support to the far-curve.||Day-Ahead power has recorded another loss this morning as strong wind generation is expected over the weekend and the start of next week. However, a drop in temperatures has helped some near-curve contracts climb higher. Far-curve contracts display minimal movement as coal continues to provide bearish resistance.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent is almost unchanged this morning as it nears a technical resistance level following strong upward movement as a result of lower US production.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 50.42ppt and £48.59/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.