|Market Close||Market Close|
|The expected rise in demand in the coming weeks continued to provide upward pressure at the front of the gas curve yesterday, with an extended outage in Holland also assisting the bulls. Norwegian flows were also down due to an unplanned outage. Meanwhile, far curve contracts displayed minimal changes as coal and oil markets stabilised.||An expected drop in wind generation today supported the prompt, while the rest of the near-curve found direction from next week’s cold weather outlook. Further out, coal prices moved higher at the start of the session and contributed to gains, while oil corrected downwards in the afternoon, providing some resistance.|
|Market Open||Market Open|
|The system is over 35mcm long this morning with demand levels close to the seasonal norm. However, any losses have been limited by the expected drop in temperatures across Europe in the coming days. Upward movement further along the curve has also been capped by a stronger Pound and weaker Brent.||Wind generation is expected to improve slightly tomorrow, resulting in a minor gain on the prompt, while front-month has moved higher as cold temperatures are expected at the start of March. The back of the curve is generally bearish with a stronger Pound and falling Brent countering the effects of rising coal prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays a loss this morning as the Dollar has strengthened and US equities have declined. Traders now await the release of this week’s EIA report which will provide an update on US oil data.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity recorded a small loss– closing at 47.34ppt and £46.78/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.