|Market Close||Market Close|
|Gas prices moved higher yesterday, with the stronger increases displayed at the front of the curve. The prompt was pushed higher by a colder weather outlook and weak renewable power generation.||The power curve displayed gains during Monday’s session, following rising gas and carbon. Carbon markets remained volatile, rising by more than 5%, influencing power. Meanwhile, the Day-Ahead contract found strong support from weak renewables and tighter gas supply.|
|Market Open||Market Open|
|The UK gas system is balanced this morning as wind levels are very low and temperatures have decreased, lifting demand. Flows are healthy, limiting gains on the prompt somewhat, while stronger oil and power has offered support to the rest of the gas curve.||Power prices remain bullish today, continuing to follow their gas counterparts. Oil also trades higher, while coal and carbon contracts have eased down. Wind levels are below 1GW this morning but are expected to improve tomorrow, helping the prompt record a loss.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased as tensions between Armenia and Azerbaijan could potentially involve Russia and Turkey, creating strong risk in terms of oil transit.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 37.69ppt and £48.53/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.