|Market Close||Market Close|
|The expected delay of LNG shipments to the UK offered support to the front of the gas curve during Wednesday’s session, while the rest of the curve was slightly bearish due to weaker carbon and oil.||Power contracts found some support from an uptick in gas prices, although the prompt recorded a loss on the back of a stronger wind generation forecast for today and tomorrow. Far-curve prices were generally bearish as carbon markets corrected down and the outlook for oil was weak.|
|Market Open||Market Open|
|Gas contracts have opened lower this morning as demand for heating and gas-fired power has decreased, helping towards a comfortable system which is 34mcm long. Temperatures are expected to dip over the weekend but will climb above the seasonal norm next week, further weighing on prices.||Improved wind generation and milder temperatures have reduced demand this morning which has resulted in losses on the prompt and across the near curve. Contracts further out are largely stable with little direction offered by commodities.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude recovered some its losses due to the accident in the Suez Canal which has caused a blockage and a delay to transit of goods and commodities, including oil.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 50.34ppt and £60.82/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.