|Market Close||Market Close|
|The front of the gas curve moved down due to very healthy supply and demand levels which were significantly below the seasonal norm. On the far curve, movement was slightly bullish as oil and carbon continued to strengthen.||Weaker gas pressured down near curve power prices, although the Day-Ahead contract inched higher due to a lower wind generation outlook for today and over the weekend, although mild weather offered resistance.|
|Market Open||Market Open|
|The UK gas system is 24mcm long this morning, weighing on the prompt and the rest of the near curve. Demand levels remain low, while LNG send-outs have increased following two deliveries yesterday. Oil prices have also taken a breather after a bullish trend and the far curve also displays losses.||Power contracts have followed gas and trade lower this morning, with the exception of the prompt which has been pushed slightly higher by a drop in wind generation. Supply/ demand remains healthy, while fuel markets have retraced some of their gains.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent crude has opened lower this morning despite bullish sentiment, with the drop thought to be technical as traders await further news regarding a COVID-19 vaccine.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved lower, closing at 35.98ppt and £44.98/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.