|Market Close||Market Close|
|Gas prices were largely bearish yesterday apart from the prompt which increased on the back of an expected drop in temperatures and renewable power. Any losses recorded towards the back of the curve were limited by bullish coal and oil.||Movement along the power curve was similar to gas, with only the prompt displaying a noticeable gain. Demand levels are low for this time of year, weighing on the near curve but consumption is expected to increase in December.|
|Market Open||Market Open|
|Gas prices are up this morning, following the overall energy complex, boosted by the possibility of an effective COVID-19 vaccine. The system has also tightened with a significant rise in gas-fired power generation, while temperatures are also expected to dip further in the coming weeks.||Day-Ahead power has increased by over £20/MWh since yesterday’s open – this is a result of low wind levels, a colder weather outlook and many people in the UK expected to return to workplaces next week. The rest of the curve has also moved higher, following rising gas and commodities.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude trades just below $47.9/b this morning, its highest level since March this year. The main market drivers remain OPEC production cuts and the development of a Coronavirus vaccine.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher, closing at 37.76ppt and £45.83/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.