|Market Close||Market Close|
|Demand levels sat well below the seasonal average during Tuesday’s session, resulting in a comfortable system despite planned maintenance reducing imports into the UK. The curve was mostly bearish as a result, with a drop in carbon allowance contracts also a factor.||The prompt was one of the few contracts to move higher yesterday as weaker gas, oil and carbon dictated movement along the power curve. However, expectations of colder weather offered some support to the near curve.|
|Market Open||Market Open|
|Gas contracts on the near curve trade higher this morning due to an expected delay in LDZ deliveries as a shipping vessel has run aground in the Suez Canal, causing major disruption. Further out, weaker oil and carbon markets have offered some resistance.||Wind levels are expected to increase from tomorrow onwards which has helped the prompt record a loss this morning, although the rest of the curve has followed gas and displays gains. Movement further along the curve is more subdued due to a decrease on commodity markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has recorded a strong loss with European lockdowns the main market driver, as well as a dispute over vaccine exports to the UK, causing political friction. Brent currently trades below $61/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 50.93ppt and £61.32/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.