21st December 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices were pushed higher by the stalemate between the UK and the EU in regard to trade deal talks. A tighter demand outlook also offered further support to the curve, in addition to a rise in commodities. The prompt showed little movement on Friday as colder weather offset the impact of improved wind generation. The rest of the curve also closed higher, following rising gas.
Market Open Market Open
Gas prices have increased across the curve this morning as colder temperatures are expected over the next couple of weeks. Brexit negotiations also continue to drag on and have offered support across European markets. Power prices display a similar trend to gas and have opened higher, with Brexit complications and a higher demand forecast contributing to bullish pressure. The prompt has increased significantly as cold temperatures and reduced renewable generation is expected this week.

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

Brent Summary

Brent Crude prices have moved down as the demand forecast for the start of 2021 has weakened due to the tightening of COVID-19 restrictions across the world.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 43.29ppt and £51.83/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 - 21-12-2020

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