|Market Close||Market Close|
|A colder weather helped near-curve gas contracts to increase, with residential demand sitting 20% above the seasonal norm yesterday. However, milder temperatures are expected later in the week, capping some of the gains. Contracts further along the curve were generally stable as bullish momentum on coal and oil markets eased.||Power prices displayed mixed movement yesterday with an expected rise in heating demand offering support to some near-curve prices, offsetting an expected rise in wind generation for today. Further out, coal and oil markets stabilised somewhat and offered little support to power prices.|
|Market Open||Market Open|
|Temperatures have been revised down for tomorrow which resulted in a stronger prompt this morning. The rest of the near-curve is bearish as Norwegian supply levels have improved, with Langeled flows close to capacity and Vesterled flows also showing an increase. Meanwhile, downward movement at the back of the curve has been slightly restricted by rising Brent.||A sharp drop in wind generation is forecast for tomorrow, helping the prompt to open at a strong premium. Cold weather continues to apply bullish pressure to the near-curve, while fuel markets show minor increases and have had little impact on prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display further gains this morning and trade above $60.9/b, with direction coming from a reported drop in US crude inventories and optimism in regards to the extension of global output cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.48ppt and £45.73/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.