21st January 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Sentiment was little changed yesterday, although a rise on oil markets offered support in the morning. The rest of the session was driven by a mild and windier weather outlook and an expected rise in LNG send-outs next month. The prompt shed from its price on Wednesday as wind levels were expected to pick up today due to Storm Christoph. The rest of the curve displayed minimal movement in either direction, caught between weaker demand and a rise in oil.
Market Open Market Open
Gas prices have opened lower this morning despite the system falling short. Temperatures have dropped but are expected to increase again over the weekend, while wind levels should remain healthy, contributing to the losses. Power contracts display losses across the curve this morning due to lower demand and improved renewable generation. However, a slight rise in coal and carbon has limited some of the losses further along the curve.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent Crude trades around $56.1/b and has decreased slightly since yesterday afternoon due to an unexpected rise in US crude stocks, with concerns about global demand an on-going factor.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 46.90ppt and £55.16/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

energy price graph - 21-01-2021

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.