|Market Close||Market Close|
|Gas prices stabilised yesterday with the help of a rebound in oil which put a stop to the bearish trend displayed in the morning. Cold temperatures also offered support to the near-curve with an expected rise in demand forecast for today.||Movement along the power curve was mixed yesterday with support provided by a rebound in oil and a weaker Pound. A rise in heating demand was also expected today due to cold overnight temperatures and renewable generation will be limited.|
|Market Open||Market Open|
|The gas curve remains stable this morning as oil and coal markets have calmed, carbon has moved down and power is mixed; providing little direction to prices. The UK gas system is oversupplied but the effects of this have been offset by a cold weather outlook for the coming days.||Power prices are stable to bullish this morning, with cold weather and weaker wind levels supporting the front of the curve. However, a slightly weaker demand outlook is forecast for tomorrow, resulting in a loss on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices rebounded yesterday as US sanctions will reduce Venezuelan output by 500,000 barrels per day, with production cuts in Saudi Arabia also providing on-going support.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 56.37ppt and £58.40/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.