29th March 2021 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
The Suez Canal blockage helped boost a week of strength across both gas & power markets last week. Prices naturally jumped up as Apr 21 NBP rose 4.80p/therm on the week, leaving the contract trading at approximately 2p/therm premium over the Summer 21 contract. Power prices were dulled by flat carbon pricing last week as Apr 21, Summer 21, and Winter 21 baseload contracts rose by £2.61/MWh, £2.53/MWh, and £1.04/MWh, respectively.
Market Open Market Open
Temperatures are expected to climb this week, weighing down heavily on spot prices. Downward movement is seen across the curve this morning, with a bearish outlook held for the week ahead. A healthy renewable generation outlook has remained for this week, helping to weigh on the prompt. The majority of contracts across the curve have opened down this morning, with a bearish outlook held for the coming days.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent Crude oil has seen substantial increases and has opened the day +4.23% at 64.57$/bbl.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 49.35ppt and £60.25/MWh, respectively.

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Today’s prices can also be found in an easy to read table on our current UK energy price page.

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.