31st March 2021 | Posted by: Rebecca Haughton | Market Analysis

Gas   Power
Market Close Market Close
Gas prices increased yesterday, with the price for NBP SUM-21 increased yesterday precipitously and ended the day +2.44% at 46.12 pence/therm. The price for UK Power SUM-21 increased yesterday and ended the day +1.19% at 55.93 £/MWh. German Power YEAR-22 increased incrementally and ended the day +0.66% at 56.68 €/MWh.
Market Open Market Open
This morning the gas system is 21 mcm long, as the UK sees temperatures above the seasonal norm. Steady flows from LNG storage facilities and Norway are keeping the grid well supplied with demand forecast below normal today. LNG storage levels in the UK are high for the time of year after several weeks of frequent imports. Power prices have increased slightly this morning, with Year Ahead prices up by £1.01/MWh. Wind demand has dropped, increasing demand however, solar generation can help pick up some of the slack with the short-term sunny conditions.

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

Brent Summary

Brent Crude oil decreased modestly yesterday and ended the day -1.29%. This morning Brent is trading at $64.14/bbl.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas and commercial electricity increased, closing at 51.92ppt and £61.26/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.