|Market Close||Market Close|
|Gas prices increased yesterday on the back of expectations of tighter supply at the start of next year, although mild weather and improved renewables limited upward movement on the prompt.||Strong wind levels were forecast for today which helped the Day-Ahead contract record a loss on Tuesday, although the rest of the near curve followed rising gas contracts.|
|Market Open||Market Open|
|Norwegian flows have increased by 15mcm this morning and the system remains oversupplied, with continued mild weather keeping demand levels well below the seasonal norm. This has contributed to some losses across the near curve, while longer dated contracts have been pushed higher by stronger coal, carbon and oil.||An improved supply outlook for the first quarter of 2021 has weighed on the front-month and front-quarter contracts this morning. A stable supply’ demand outlook for tomorrow has also resulted in a small loss on the prompt. Meanwhile, contracts further along the curve have been supported by recovering commodity markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays another gain this morning and trades around $50.7/b as markets remain optimistic due to the rollout of the COVID-19 vaccine which is expected to increase demand and economic activity in 2021.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, commercial electricity recorded a gain, closing at 43.00ppt and £52.73/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.