|Market Close||Market Close|
|The return of Norwegian processing facilities and an expected rise in temperatures this week resulted in losses across the near gas curve on Friday. Movement further out was generally stable with some bullish pressure provided by a healthier outlook for oil markets.||High power consumption resulted in some gains on Friday, with reduced wind availability also forecast for this week. Meanwhile, longer dated contracts were supported by rising fuel and commodity markets.|
|Market Open||Market Open|
|Demand is down on the back of milder weather which has resulted in an oversupplied gas system; however, this has failed to weigh on prices. Instead, contracts across the curve display minor gains due to a weak renewable power outlook and rising oil markets.||Wind and solar levels are expected to remain low this week, weighing on the near curve, although a slight increase tomorrow, combined with milder weather has helped to weigh on the prompt. Further out, contracts have been pushed higher by a rise in coal and oil.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude nears $70/b once again as Saudi Arabia has complied with oil production cuts, while increased economic activity in China has also boosted demand forecasts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 50.50ppt and £61.22/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.