14th January 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices ended the session lower on Wednesday, erasing some of the strong gains recorded in the previous session as European markets remained volatile. Low LNG send-outs were offset by healthy imports, while cold weather kept demand levels high. Power contracts shed from their price yesterday, mirroring moves on the gas market. An expected improvement in wind levels today helped to limit upward movement on the prompt, although overall fundamentals were unchanged.
Market Open Market Open
Gas prices have dropped since yesterday, particularly prices on the near curve. A shift in forecasts point towards a period of milder and windier weather towards the of January, easing demand levels. However, current demand levels sit 20mcm above the seasonal norm. Power prices have decreased this morning due to an expected drop in demand levels over the coming weeks. The prompt is the exception and displays a strong increase, as cold weather and limited renewable generation is expected to continue over the short term.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent Crude has eased down slightly and trades just above $56/b, with overall oil and commodity markets taking a breather from the bullish sentiment seen over the past week.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved down, closing at 47.74ppt and £55.23/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

energy price graph - 14-01-2021

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.