|Market Close||Market Close|
|The system was oversupplied yesterday, with another drop in demand forecast for today’s session, helping the prompt to close at a discount. Meanwhile, the rest of the near curve was also pressured down by a milder weather forecast for next month.||A more comfortable demand outlook resulted in bearish movement along the power curve during Thursday’s session, although weak renewables offered some resistance. Further out, coal and carbon markets remained bullish, while oil struggled for direction.|
|Market Open||Market Open|
|Near curve gas prices display slight losses this morning, while mid-to-longer dated contracts recording gains. A milder weather outlook helped to weigh on prompt prices but continued restrictions on LNG send-outs and bullish fuel has supported the rest of the curve.||Temperatures are expected to turn colder over the weekend and parts of next week helping to lift the prompt this morning, combined with lower wind generation. The outlook for February is generally mild, weighing on the rest of the curve, while another rise in coal offers support further out.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays another small decrease this morning as weak global demand continues to offset any bullish factors for the time being, Brent currently trades around $55.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 47.98ppt and £55.73/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.