|Market Close||Market Open|
|A rise in oil prices helped to push gas contracts higher yesterday afternoon with further bullish pressure provided by stronger coal and carbon. LDZ demand is forecast to fall next week as milder temperatures return to the UK and an LNG delivery is expected to dock at South Hook on Monday, limiting gains on the near-curve.||Strong wind generation continued to weigh on the near power curve on Wednesday, although colder weather has resulted in low solar power. Losses on the French market transferred to UK winter contracts but a rebound in oil pushed some prices higher, with the help of bullish coal and carbon.|
|Market Close||Market Close|
|Residential demand is above the seasonal norm and CCGT demand has increased this morning due to a drop in renewable power, offering support to the near-curve. Contacts at the back of the curve have been pushed higher by rising power and carbon markets. However, supply levels have improved on the back of a drop in exports and a rise in UKCS nominations, helping to restrict the gains.||Wind generation is expected to drop next week although current levels remain high, while the outlook for solar power is mixed. Prices at the front of the curve moved higher thanks to this weaker wind forecast, while a strengthening carbon market helped to support prices further along the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices recorded further gains yesterday following the latest IEA report which showed strong demand figures; Brent currently trades at $55.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 47.15ppt and £47.74/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.