26th February 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices were stable-to-bullish during Thursday’s session, with the majority of the gains displayed towards the back of the curve. Far-curve contracts found support from rising a oil market, with coal and carbon also trading higher. Another drop in wind generation was forecast today, while a dip in temperatures is expected next week, offering some support to the prompt and near curve power prices during yesterday’s session.
Market Open Market Open
Gas prices display further gains this morning, ignoring improved Norwegian imports and continued mild weather. Instead, prices have been pushed higher by a rise in CCGT demand following a drop in wind generation, while temperatures are also set to turn slightly cooler next week. Wind levels are very low this morning which has resulted in a strong gain on the prompt, while cooler weather has helped to lift the rest of the near curve. Further out, contracts have followed commodity markets and eased down slightly.

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

Brent Summary

Brent Crude has dropped back below $67/b this morning due to a decline in US Bonds which strengthened the Dollar; this has weighed on all commodity markets on the stock exchange.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved higher, closing at 43.98ppt and £54.97/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 - 26-02-2021

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.