|Market Close||Market Close|
|Weak demand weighed on gas contracts yesterday as strong renewable generation reduced the need for CCGT capacity and temperatures remained above the seasonal norm. Movement further out was subdued as commodity markets failed to display a clear trend.||The majority of power prices displayed a loss during Thursday’s session as demand was down and wind generation was healthy. Meanwhile, carbon contracts displayed another decrease, weighing on longer dated contracts.|
|Market Open||Market Open|
|Gas prices display minor gains this morning, ignoring a well balanced system. The system is 18.5mcm long despite a slight increase in demand as supply levels are healthy, however, near curve prices have found support from a cooler weather outlook for the start of April and delays to LNG deliveries.||A cooler start to April and the possibility of tighter gas supply has provided some bullish pressure at the front of the gas curve this morning. A healthy renewable generation outlook for next week has helped to weigh on the prompt, while the far curve has inched down due to easing carbon markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude continues to find support from the Suez Canal blockage, with supply concerns increasing every day the issue remains unresolved.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 50.48ppt and £61.04/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.