|Gas prices climbed higher on Tuesday with the larger gains displayed at the front of the curve. A rise in coal and oil helped to lift prices, although an expected rise in wind generation weighed on the prompt as this should reduce demand for gas-fired power.
|Power prices increased yesterday with an expected cold spell offering support to contracts at the front of the curve. However, the cold period is set to be short-lived and above average weather is expected to return later in the month. Meanwhile, a healthier wind generation forecast for today helped the prompt move down.
|Gas prices are little changed this morning as trading has slowed down as we head towards the Christmas holidays. The prompt displays a small loss as similar wind levels are expected tomorrow and flows are stable.
|Power prices are generally stable this morning as carbon prices have eased down and wind levels improved as expected. Oil prices rebounded yesterday afternoon, capping bearish movement at the back of the curve, while the impending cold stint supports the near-curve.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have rebounded and overall sentiment on oil markets is mixed. A weak demand forecast & rising US production are currently offsetting the effects of confirmed OPEC output cuts, with some uncertainties on how these cuts will be implemented.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 61.85ppt and £61.25/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.