|Market Close||Market Close|
|A decrease in flows to the UK sent the system short during Wednesday’s session despite very low demand. Mild weather and stronger renewable generation reduced both LDZ and CCGT demand, while LNG send-outs remained high. However, additional support was provided an increase in wider commodities due to a rise in US prices.||Near curve power prices displayed losses yesterday as an increase in temperatures weighed on consumption levels, while improved wind & solar power pressured down the prompt. Some resistance was provided by tighter gas supply and a rise in oil.|
|Market Open||Market Open|
|Gas prices remain slightly bullish at the front of the gas curve this morning as supply disruption via the UKCS and Langeled pipelines continue to reduce flows into the UK, while a strong increase in US markets has transferred to Europe.||Power prices continue to ease down thanks to mild weather and strong renewable generation, with wind power holding a higher share of the generation mix than gas this morning. Further out, losses have been restricted by an increase in global commodities.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has increased by almost $1/b as markets remain supportive due to the temporary closures of refineries and production facilities in the US. Oil markets display a clear bullish trend right now due to OPEC production cuts, Middle Eastern tensions and hopes that national lockdowns are coming to an end soon.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a loss, closing at 45.68ppt and £55.58/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.