|Market Close||Market Close|
|An upward revision in temperature forecasts helped to pressure down prices at the front of the gas curve during Wednesday’s session, although prices further out were more resilient as commodities displayed only minor changes.||Power contracts followed gas and displayed losses on the near curve as a result of a milder weather and improved wind generation outlook. Further out, contracts were generally stable, with little in the way of direction.|
|Market Open||Market Open|
|The UK gas system is 14mcm long this morning as the return of milder weather has helped to ease demand levels. LNG send-outs are also expected to increase in February following the recent drought, resulting in some downward movement at the front of the curve.||A healthier demand outlook has contributed to some losses on the near curve, with improved wind generation also helping to weigh on the prompt. However, overall movement is bullish due to a rise in coal and carbon.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has decreased slightly on the back of bearish data in the latest EIA report. The market also awaits new presidential orders in the US which could suspend any new oil or gas leases on public land or offshore waters, making it difficult to build new pipelines.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 47.55ppt and £55.43/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.