|Market Close||Market Close|
|Gas prices posted gains yesterday despite a bearish opening as strong demand, caused by very cold temperatures dictated the near-curve. However, milder weather is expected towards the end of next week which limited the gains. Contracts at the back of the curve moved in the opposite direction on the back of weaker coal and oil markets.||The prompt increased strongly on Tuesday as very high demand levels were expected to continue today, with healthy renewables failing to have any impact on the contract. An upward revision in temperatures for next week limited gains on the rest of the near-curve, while weaker fuel markets and a stronger Pound applied bearish pressure at the back of the curve.|
|Market Open||Market Open|
|Day-Ahead has recorded a strong loss this morning, erasing yesterday’s significant increase, with the system opening slightly long despite high demand levels. The cold weather outlook has supported the rest of the near-curve, while a drop in Brent and a strengthening Pound has weighed on the far-curve.||Day-Ahead power displays another significant gain this morning, moving in the opposite direction to its gas counterpart as freezing temperatures will result in increased heating demand over the coming days. The rest of the curve is also bullish with the exception of a couple of contracts, although losses are likely later in the session due to weakening fuel contracts and a healthy wind forecast for the rest of the week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent corrected downwards yesterday, decreasing by almost a Dollar to trade at $66.4/b this morning. Bearish pressure was created by recent API figures and weak economic data in Asia.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 46.45ppt and £46.51/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.