20th December 2016 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
After a relatively quiet day of trading, gas prices ended on a bullish note, with a combination of a weaker pound against the euro and news of a new outage which will cut Rough withdrawals until 1st January helping to curb early losses. Increased wind generation saw prices decrease yesterday as the near curve in particular took on a bearish note, with a milder weather outlook seeing a drop in anticipated demand.
Market Open Market Open
The UK market opened to uncertainty brought about by restrictions placed on Rough until the end of year, with slightly colder looking weather forecasts contributing to a rise in the near curve in this morning's session. Continued increases in wind generation, which is forecast to continue, have limited the impact of a slightly colder forecast. Rising Oil and Coal prices, however, have seen an increase in prices across the curve as the market opened this morning.

Brent Summary

Brent 1st nearby prices were slightly down at the market close yesterday, and has opened bullishly this morning as prices are supported as both OPEC and non-OPEC producers are expected to respect their commitment to cut output from next month. Brent is currently trading at just below $55/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas and electricity recorded small gains - closing at 45.35ppt and £45.70/MWh, respectively.
Today's prices can also be found in an easy to read table on our 'current UK energy price'  page.

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.