|Market Close||Market Close|
|A short system resulted in gains across the near gas curve yesterday, with high demand and reduced flows via the UKCS tightening supply levels. A healthy LNG outlook helped to limit the gains somewhat, while a weak renewable power forecast supported the prompt.||Wind generation is set to underperform over the next couple of days which helped the prompt rally higher during Monday’s session. Temperatures also remained below the seasonal norm and the gas system fell short, further contributing to gains on the power curve.|
|Market Open||Market Open|
|The gas system has opened balanced this morning which has helped to pressure down NBP prices, although cooler weather and very low wind generation keeps demand high. A rise in LNG send-outs has helped to balance the system, with a flurry of deliveries expected this month.||The prompt displays a strong increase this morning as wind levels have plummeted, with weak levels also forecast for tomorrow. Colder weather also offers support to the rest of the near curve, although improved gas supply has offered some resistance.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude trades around $63.3/b and remains range-bound with no new market drivers able to push the market in either direction. The success of the vaccine roll-out and the reopening of businesses across the globe is the main factor to keep an eye on right now.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a loss, closing at 49.49ppt and £59.41/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.