|Market Close||Market Close|
|Gas markets had some hope yesterday as Norwegian offshore operator Gassco indicated that an unplanned outage on Tuesday at the Oseberg field, would be extended. However, the day ahead volume impact was listed at zero, thus failing to provide any significant support to prices.||Bearish sentiment was generally seen across all markets yesterday. Unseasonably warm conditions and high wind generation expectations were the reasons for this. The UK saw front month Dec 20 decline by £0.31/MWh, whilst the Summer 21 and Winter 21 contracts also declined by £0.20/MWh and £0.41/MWh, respectively.|
|Market Open||Market Open|
|Gas markets have shown some sign of recovery this morning as front month December has lifted 0.8p/th to 40.4p/th. Temperature forecasts predict we will see cooler temperature next week, helping gas bounce back after a week of no real direction.||Wind outturn is expected to peak today at 13.4 GW versus a peak of 11.1 GW recorded yesterday, which may pressure prompt pricing later in the session. Overall, a continued bearish outlook is held across most contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
After starting the day with slight gains, Brent Crude oil decreased modestly yesterday and ended the day down at 43.53$/bl.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas and commercial electricity moved down, closing at 38.19ppt and £46.15/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.