|Market Close||Market Close|
|Sentiment on the near gas curve remained bullish yesterday due to the impending cold spell which will increase demand levels and tighten the system. There was some uncertainty with regards to how long the cold spell will last, helping some contracts hold their price, while a drop in coal applied downward pressure to far-curve contracts.||Movement along the power curve was similar to gas with the expected drop in temperatures contributing to gains on the near-curve. The prompt moved higher despite improved renewable generation today and prices at the back of the curve displayed small losses following a decrease in APi2 coal.|
|Market Open||Market Open|
|The system remains long this morning despite a rise in demand but the prompt and front-month has climbed higher due to the cold weather/ high demand outlook. Brent has stabilised, while the coal market has turned bearish, limiting any upward movement at the back of the curve.||Day-Ahead power has opened at a premium as demand is set to rise further tomorrow; wind generation is forecast to improve slightly but this had little impact. The rest of the curve is stable-to-bearish, with little direction provided by fuel markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are unchanged from yesterday’s opening with a stronger Dollar offsetting supportive API figures; Brent currently trades at $64.8/b.
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 47.49ppt and £46.74/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.