|Gas prices moved slightly lower by the end of Tuesday’s session with little change in terms of fundamentals to influence the market. A stronger Pound helped towards some of the losses, although expectations of higher demand over the coming days offset some of the downward movement.
|Power prices decreased yesterday, pressured down by corresponding gas contracts. The Pound also strengthened against the Euro, adding to the bearish sentiment.
|The UK gas system is slightly undersupplied this morning due to a drop in temperatures and an increase in gas-fired power on the back of weaker renewables. Gas prices are trading higher as a result, helped by a rise in coal and carbon.
|Cooler temperatures and a drop in wind generation has helped power prices climb higher this morning. Coal, carbon and feedstocks also display gains, while equity markets are on the rise thanks to likely stimulus provided in the US.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have inched higher once again as a $2 trillion stimulus package is close to being agreed, providing market optimism.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 27.83ppt and £34.77/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.