|Market Close||Market Close|
|Gas prices found some support yesterday from a longer-term view in regard to supply/ demand but an oversupplied system helped to weigh on the prompt. Further out, commodities offered little in the way of direction and any movement was minimal.||Mild temperatures and improved gas supply helped the front of the power curve ease down yesterday, with an expected rise in wind generation today applying additional bearish pressure to the prompt.|
|Market Open||Market Open|
|Gas contracts have opened lower this morning as demand levels have decreased on the back of high wind generation and mild weather. The system is 13mcm long but an expected drop in renewable availability and temperatures has limited downward movement on the prompt.||Wind generation levels are expected to plummet tomorrow, while temperatures will be a touch cooler, resulting in a strong gain on the prompt. The rest of the curve is largely bearish as weakening oil has impacted the overall energy complex.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display another loss as a rise in Coronavirus cases and a weak demand outlook continue to weigh on oil markets. Meanwhile, an oil rig has drifted in the Gulf of Mexico and blocked one of the main waterways, potentially delaying LNG shipments.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 40.21ppt and £47.73/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.