|Gas prices saw a mixed day of trading yesterday as the front of the curve found some support from a rise in demand, while the far curve was pressured down by a drop in oil. Some bullish sentiment was also provided by expectations of a gradual lift on lockdowns in Europe next month.
|Power prices climbed slightly higher on Monday, following gas, with a drop in temperatures and renewable generation tightening supply. Further out, sentiment was largely bearish as coal and oil traded lower.
|The UK gas system is oversupplied this morning, while coal and oil display further losses; this has resulted in the majority of gas contracts opening flat or slightly lower. However, a cooler weather outlook has helped to push the prompt higher.
|Coal & oil display further losses, feedstocks & carbon are also lower and gas is offering very little support in either direction this morning. Power prices have opened down as a result, although a cooler weather outlook has provided some resistance.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices dropped below $20/b as last week’s recovery was short lived. Recent losses were mostly technical as traders look to secure their position on the US market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 30.32ppt and £38.65/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.