|Market Close||Market Close|
|Gas prices moved higher during Wednesday’s session following a bullish turn on the wider energy complex. A milder weather outlook and an expected drop in gas-fired power demand today helped to limit the upward movement.||Power prices followed gas and traded higher yesterday, with rising oil the main market driver. The prompt displayed a strong loss as wind generation was expected to pick up today, while warmer weather is also forecast for the second half of the month.|
|Market Open||Market Open|
|Gas prices display further gains this morning, with Brent rising to around $66.6/b, offering support to wider commodity markets. On the supply side, the system remains balanced despite high demand, with warmer temperatures expected, as well as a busy LNG schedule improving the situation further.||Increases on the oil market have transferred across to all energy markets, including power, with most contracts dictated by stronger carbon. Improved wind levels have weighed on the prompt, while the warmer weather outlook has also offered some resistance.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Improving demand forecasts and a drop in US stocks have contributed to a strong increase for Brent Crude overnight, rising to around $66.6/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity moved lower, closing at 50.24ppt and £59.53/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.