|Market Close||Market Close|
|Gas prices moved slightly higher on Friday with expectations of winter weather this week and reduced LNG output contributing to gains at the front of the curve. Further out, contracts were pushed higher by recovering oil.||Friday saw high wind output and continued mild temperatures, weighing on the prompt and the rest of the near curve, with healthy wind levels expected over the weekend and today. The rest of the curve was generally more stable with resistance provided by rising coal & oil.|
|Market Open||Market Open|
|Near curve gas prices trade higher this morning despite an oversupplied system, with contracts instead taking direction from an expected drop in renewable power availability and a colder weather outlook for later in the week. Meanwhile, commodities remain supportive, with oil markets continuing to rise.||Friday saw high wind output and continued mild temperatures, weighing on the prompt and the rest of the near curve, with healthy wind levels expected over the weekend and today. The rest of the curve was generally more stable with resistance provided by rising coal & oil.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade around $43/b and sentiment remains bullish due to strong compliance in regard to production cuts by OPEC and the wider group. Oil producers have reduced output by around 7.7 million barrels per day.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher, closing at 38.92ppt and £47.23/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.