|Market Close||Market Close|
|Gas prices ended last week on a bullish note as supply constraints, the potential rerouting of LNG cargoes and higher Henry Hub prices combined to lift contracts across the curve.||Power prices displayed gains on Friday, pushed higher by increases on the gas market. Wind levels were forecast to remain healthy over the weekend before falling at the start of this week, while mild weather is set to continue over the next couple of weeks.|
|Market Open||Market Open|
|Gas prices have opened lower this morning due to continued mild weather in the UK and an increase in LNG send-outs. The UK gas system is 8mcm long at the start of the session, with demand levels sitting 57mcm below the seasonal norm. An improved and warmer situation in the US has also weighed on global markets.||Day-Ahead power has opened higher this morning due to a significant drop in wind generation, resulting in a sharp rise in gas-fired power demand. However, the rest of the curve has opened lower, following bearish gas and weaker commodities.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude decreased over the weekend due to the extreme weather in the US but has since recovered and contracts have opened higher this morning as oil facilities in badly affected areas begin to reopen.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 43.79ppt and £54.63/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.