|Market Close||Market Close|
|An oversupplied system helped to restrict upward movement at the front of the gas curve yesterday, although demand remained above the seasonal norm and supply is limited this week due to planned maintenance.||Low renewable generation levels and cooler temperatures continued to offer support to near curve power prices yesterday. Further out, contracts were driven by gains on carbon, coal and oil markets.|
|Market Open||Market Open|
|Gas prices have softened this morning as the bullish streak on carbon markets has come to stop temporarily and oil markets have corrected down. The system opened 2mcm long with weak renewable power continuing to lift demand, however, LNG send-outs are set to increase following new deliveries.||Power prices are largely stable this morning as commodity markets are slightly bearish for the time being. Meanwhile, weak wind generation is expected to continue tomorrow, helping the prompt record another gain.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
A drop in US crude oil stocks had minimal impact yesterday as Brent Crude has dropped by around $1/b due to another strong rise in India’s COVID-19 cases. The economic recovery in the US is also slower than initially forecast, weakening the Dollar.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a minor gain, closing at 61.65ppt and £72.06/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.