|Market Close||Market Close|
|Gas prices continued to move higher during Monday’s session, following a rise in commodities. However, any upward movement on the near curve was offset by a long system and a weaker demand forecast.||Wind levels were forecast to increase today which helped the prompt ease down, however, renewable generation is expected to be limited for the remainder of the week. The rest of the curve followed gas and inched higher, with support provided by a rise in commodities.|
|Market Open||Market Open|
|The recent bullish trend has come to halt this morning with contracts dropping back below last week’s closing prices. Near curve prices display strong losses on the back of weaker demand and an oversupplied system as LNG send-outs remain strong with further deliveries expected.||Power prices have followed gas and downward movement can be seen across the curve with a very healthy supply/ demand outlook dictating movement at the start of the session. Milder weather is forecast for the remainder of March and gas supply is abundant.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays a downward correction and trades back below $69/b, the market is waiting for new drivers to take Brent above the $70/b resistance level.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased sharply, closing at 48.46ppt and £60.31/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.