|Market Close||Market Close|
|A milder weather forecast for this week and the remainder of February helped gas prices close at a discount. Strong imports and high LNG send-outs also kept the system oversupplied, while healthy wind generation reduced CCGT demand.||Healthy wind and solar levels helped to weigh on the prompt on Friday, while an expected rise in temperatures and a comfortable gas system contributed to losses across the rest of the near curve.|
|Market Open||Market Open|
|Gas prices have started the week on a bearish note, adding to the previous week’s losses. Milder weather has returned to the UK, resulting in a significant drop in demand, while the LNG outlook for the remainder of the month is very healthy, with another 11 cargoes expected to dock in the UK before March.||The increase in temperatures has helped to weigh on near curve power prices this morning, with demand levels decreasing strongly. Healthy gas supply and comfortable wind generation is also a contributing factor, although rising oil offers some support further out.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays further gains this morning as tensions between Saudi Arabia, Yemen and Iran could cause major disruption in the area, in terms of oil transit. Brent reached a high of around $63.5/b overnight but has settled back down to around $62.4/b this morning.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial electricity recorded a gain, closing at 45.92ppt and £56.30/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.