|Market Close||Market Close|
|Expectations of cold weather and reduced imports into the UK helped to push gas prices higher throughout Friday’s session. Commodity markets were relatively stable, with oil markets waiting for fresh direction.||The power curve displayed numerous gains at the end of last week, particularly at the front of the curve as demand levels are set to increase this week due to cold weather.|
|Market Open||Market Open|
|Gas prices are bullish this morning as the system is close to balance with demand sitting 45mcm above the seasonal average due to cold temperatures across the country. Meanwhile, unplanned outages at Norwegian oil fields has also provided support, with gas flows from the UKCS also reduced today.||Cold temperatures have lifted power prices on the near curve this morning, with the current cold stint forecast to continue into the middle of February. Tighter gas supply has also impacted the power curve, while fuel markets offer little support.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has moved down over the weekend but support could be provided by economic factors in the US this week, with the financial stimulus expected to be passed by the new administration in the coming days.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 48.39ppt and £57.58/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.