|Market Close||Market Close|
|Gas prices closed at a premium on Friday, despite improved supply levels, as Norwegian maintenance is set to come to an end this week and additional LNG deliveries are expected to dock in North West Europe. Colder weather will lift demand in the coming weeks which was the main driver of prices at the front of the curve.||Power prices traded higher at the front of the curve on Friday, taking direction from an expected drop in renewable availability and colder weather. Further out, sentiment was mixed, with bearish oil offsetting the impact of stronger gas and carbon.|
|Market Open||Market Open|
|Gas continues to move higher this week on the back of a drop in temperatures and weaker renewable generation, increasing demand and tightening the system. Oil displays a small loss, while power and carbon offer support.||Commodities trade slightly higher this morning and renewable levels are much lower than the end of last week, resulting in gains along the power curve. Colder and less windy weather has influenced the prompt, with a rise in gas has contributed to gains across the rest of the near curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small loss as the overall oil complex is unchanged, with a rise in Coronavirus cases deepening concerns of weak demand and global economies.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 37.28ppt and £47.83/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.