|Market Close||Market Close|
|Gas prices moved down across the curve on Tuesday despite cold temperatures continuing to lift heating demand. Temperatures are expected to rise to around the seasonal norm towards the end of the week, limiting any impact on prices. Meanwhile, LNG supply remained strong and coal & oil markets decreased, adding to the bearish sentiment.||Prompt power prices ticked slightly higher during yesterday’s session with a drop in wind levels contributing to gains at the front of the curve, although an expected rise in temperatures offered some resistance. Further out, most contracts recorded a small loss thanks to weaker coal, gas and carbon prices.|
|Market Open||Market Open|
|Gas prices have rebounded this morning with direction coming from rising fuel markets and a short system. Supply levels are weaker today and cold weather continues to lift heating demand, while CCGT demand is unchanged from yesterday.||Lower wind generation and an increase in biomass feedstocks has lifted power prices at the front of the curve this morning, although the milder weather outlook continues to cap gains. Stock markets are also showing a recovery which has transferred to fuel markets, providing some support at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices moved down yesterday and have stabilised this morning just below $76/b. Overall sentiment on financial markets is bearish at present and currently dictates the oil market despite impending sanctions on Iran.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved higher – closing at 63.30ppt and £60.12/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.