|Market Close||Market Close|
|Temperatures are set to fall below the seasonal norm during December and the renewable power outlook is weak, resulting in gains on the prompt and the rest of the near curve. Longer dated contracts were supported by bullish coal and oil.||Minimal wind generation and a rise in heating demand helped to lift near curve prices during Thursday’s session, with gas supply expected to tighten over the coming weeks. Meanwhile, contracts at the back of the curve continued to follow rising feedstocks.|
|Market Open||Market Open|
|Gas prices have opened higher this morning as supply and demand levels are set to tighten in the coming days due to colder weather and weak wind generation. The system opened 7mcm short due to a significant rise in both LDZ and CCGT demand, offering strong support to the near curve.||Low renewable generation and a drop in temperatures support the near curve this morning, although an expected improvement in wind levels next week has helped the prompt record a loss. Further out, prices continue to find support from bullish coal and carbon, although oil has eased down.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude trades down for the first time this week as rumours have surfaced that OPEC may postpone additional production cuts for three months, while trading is also limited by the Thanksgiving holiday in the US.
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 37.94ppt and £47.35/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click to enlarge graph
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.