|Market Close||Market Close|
|The majority of gas prices displayed a rebound yesterday, with the near-curve finding strength from an undersupplied system. Meanwhile, contracts further along the curve were pushed higher by a rise in carbon and oil.||Power prices moved higher during Monday’s session, taking direction from a rise in gas, feedstocks and carbon. The prompt displayed a strong gain on the back of an expected drop in wind generation today, combined with a drop in temperatures.|
|Market Open||Market Open|
|The UK gas system remains short this morning as low wind generation and colder weather has lifted demand levels. Gas prices display further gains this morning, with bullish commodities providing additional upward pressure at the back of the curve.||The prompt displays a loss this morning as renewables are expected to pick up slightly tomorrow and temperatures are forecast to rise above the seasonal norm in the coming days. Coal, gas and oil markets have also increased, adding to the bullish sentiment.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are almost flat this morning with a lack of new fundamentals to offer support in either direction. The main market driver remains planned OPEC production cuts, while traders await this week’s US stocks report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 39.47ppt and £45.68/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.