|Market Close||Market Close|
|Traders moved to cover their positions on Friday to protect themselves from a bullish oil market over the weekend. As a result, gas prices moved higher despite an oversupplied system, as demand decreased and Norwegian flows improved.||Power contracts climbed higher on Friday with an increase in gas prices and the expectation of colder weather later in the month offering support to the front of the curve. Further out, additional bullish pressure was provided by a rise in coal.|
|Market Open||Market Open|
|The system is long again this morning, restricting upward movement on the near-curve. Meanwhile, coal and carbon markets are little changed this morning, while Brent recorded a loss over the weekend, helping towards some losses at the back of the curve.||Power prices display mixed movement this morning with coal and carbon markets moving in opposite directions. Weaker oil has limited any gains on the far-curve, while Front-Month has found support from a cooler weather outlook.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased by $1.2/b due to weak Chinese import data which showed that oil imports fell by 4.4% in December. The latest US rig count also showed a decrease, adding to the bearish sentiment.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 57.03ppt and £58.65/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.