|Market Close||Market Close|
|Low demand and improved supply helped towards an oversupplied gas system on Friday, resulting in losses on the prompt and the rest of the near curve. Sentiment further out was bullish as contracts followed oil markets.||Power prices mirrored their gas counterparts, easing down at the front of the curve and trading higher towards the back. However, a colder weather forecast and an expected drop in renewables limited losses on the near curve.|
|Market Open||Market Open|
|Gas prices have rebounded strongly this morning, tracking movement on coal and oil markets, with optimism surrounding a COVID-19 vaccine dictating overall trading. A colder weather outlook has also offered support but the system remains 10mcm long this morning due to improved LNG send-outs.||Power prices have followed gas and display gains this morning, with a drop in renewable generation also helping the prompt add to its price. Temperatures are expected to drop to around, or below the seasonal norm which has also helped to strengthen near curve prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude remains bullish as recent testing of the University of Oxford’s and AstraZeneca’s Coronavirus vaccine suggests that it could be 90% effective.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher, closing at 36.89ppt and £46.43/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.