|Market Close||Market Close|
|The system was oversupplied yesterday, resulting in losses across the near curve, with a healthy supply/ demand outlook for the remainder of the month adding to the bearish pressure.||Healthy wind generation, mild weather and comfortable gas supply pressured down the prompt and the rest of the near curve. Further out, rising coal, oil and carbon provided upward support.|
|Market Open||Market Open|
|The UK gas system has fallen 16.5mcm short this morning but a mild weather outlook has prevented upward movement on the near curve. Healthy renewable levels will also weigh on gas demand over the next week or so, while rising commodities have helped to lift the far curve slightly.||Power prices have weakened at the front of the curve thanks to above average temperatures for this time of year and an improved wind generation outlook. Meanwhile, fuel markets continue to increase, contributing to some gains further along the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude trades above $51/b this morning as bullish sentiment continues across oil markets. The main market driver remains the COVID-19 vaccine rollout.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 41.67ppt and £51.10/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.