|Market Close||Market Close|
|Demand levels were well below the seasonal norm yesterday and the gas system was comfortably supplied, however, maintenance in the North Sea has impacted storage injections and increased supply risk for the start of next year; overall movement was bullish as a result.||Power prices followed gas yesterday and climbed higher, with the exception of the prompt which was pressured down by improved wind generation and mild temperatures. Further out, prices increased as the EU announced its intention to remove UK emission credits from the market, supporting carbon allowance prices.|
|Market Open||Market Open|
|Supply concerns for the first quarter of 2021 continue to contribute to strong gains on the gas curve this morning. Gains on Asian markets also transferred to the UK and the rest of the world, while an oversupplied system offered some resistance on the prompt.||Mild and windy weather continues to weigh on the prompt this morning, with little change expected to demand and generation levels tomorrow. Meanwhile, reduced output at French nuclear facilities, outages as Norwegian gas terminals and rising commodities offer support to the rest of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays a minor increase and trades around $50.3/b as overall fundamentals are unchanged, despite bullish news regarding the attack on a Saudi oil tanker which is yet to have a significant impact on the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 43.54ppt and £51.66/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.