|Market Close||Market Close|
|A reduction in Russian flows into Europe had a knock-on effect for the UK yesterday, offering support to contracts in the afternoon. Cooler temperatures continued to lift residential demand but an expected rise in wind generation today offered some resistance.||Wind generation levels were expected to increase today, reducing reliance on gas and contributing to a loss on the prompt. The rest of the curve followed the gas market in the afternoon, supported by tighter supply levels.|
|Market Open||Market Open|
|Gas prices display strong gains as demand levels remain well above the seasonal norm and storage levels are depleting. Cooler temperatures are expected to continue for the rest of the week, while a drop in renewable power is expected to lift CCGT demand tomorrow.||Power contracts continue to add to their price this morning, dictated by high demand for gas and struggling storage facilities. Weaker renewable generation is also forecast tomorrow, combined with below average temperatures.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has climbed above $66.4/b ahead of today’s OPEC meeting, when production cuts will be reassessed based on demand forecasts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 53.89ppt and £65.35/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.