25th May 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
A balanced system and an improved LNG outlook helped most contracts on the near gas curve move down during Monday’ session. However, far curve contracts were supported by recovering commodity markets. A healthier gas system and a milder weather forecast for next week helped power contracts ease down on the spot yesterday. Longer dated contracts were driven by stronger carbon and oil.
Market Open Market Open
An increase in demand has pushed gas contracts higher this morning, with planned maintenance also reducing imports into the UK. Carbon markets have rebounded which has offered additional support to the curve. Power prices have opened higher this morning, taking direction from weaker renewables and cooler weather which has increased reliance on gas-fired power. A rise in oil, coal and carbon markets has also contributed to the bullish opening.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent continues to add to its price this morning with healthy global vaccination numbers resulting in improved demand forecasts for commodities. Meanwhile, a tropical storm could be heading for the Gulf of Mexico, impacting oil production in the area.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a loss, closing at 59.04ppt and £71.66/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

energy price graph - 25-05-2021

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.