|Market Close||Market Close|
|Gas prices displayed gains across the curve yesterday as a slight drop in temperatures has resulted in a higher demand outlook, with weaker Norwegian flows also a supportive factor. Further out, contracts were largely dictated by increases on the oil market.||Increases on the gas and oil markets helped to lift the power curve on Wednesday, with a stronger demand outlook also contributing to the bullish trend. Meanwhile, comfortable wind levels are expected in the short term which capped some of the increases on the near-curve.|
|Market Open||Market Open|
|Gas contracts have moved higher once again this morning as cooler weather has resulted in a 5% rise in demand. Despite the increase in demand, the UK gas system remains 30mcm long, limiting the upward movement. Oil prices have also strengthened as US stockpiles have decreased, helping towards gains on the far-curve.||Power contracts have added to their price this morning, tracking movement on the coal, gas and oil markets. Temperatures are also set to be slightly cooler over the coming days which has lifted demand, however, wind generation is healthy, helping the prompt move in the opposite direction to the rest of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased again this morning as the market has been supported by a bullish EIA stocks report and the results of the Dutch elections; Brent currently trades at $52.32.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & while commercial electricity increased – closing at 44.42ppt and £44.17/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.