|Market Close||Market Close|
|Gas prices traded higher across the curve during Wednesday’s session, finding support from a rise in coal & oil. Meanwhile, the system was oversupplied during the session, weighing on the prompt, with an improved renewable power outlook for today applying additional bearish pressure.||Power prices decreased yesterday, with an improved wind and solar outlook for today applying bearish pressure to the prompt. A rise in coal, gas and oil helped to lift the rest of the curve.|
|Market Open||Market Open|
|The system is slightly oversupplied this morning, tightened by a drop in LNG send-outs and colder weather, although improved wind levels has reduced demand for gas-fired power. The drop in temperatures has offered support to the front of the curve, while weaker commodities have weighed on far curve prices.||Commodities trade lower this morning which has contributed to minor losses along the power curve, during a relatively stable opening to today’s session. The Day-Ahead contract displays another loss as renewables are expected to improve again tomorrow, while Front-Month is unchanged.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are practically unchanged as OPEC production cuts have been countered by a weak demand and economic outlook, with fears of a second wave of the Coronavirus impacting global markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 36.28ppt and £47.20/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.