|Market Close||Market Close|
|Gas systems across Europe were comfortable yesterday which helped towards losses on the near-curve. An increase in imports from Norway and Belgium contributed to a long UK gas system despite a 29mcm rise in demand levels. Temperatures are also expected to turn milder next week which was another factor behind the downward trend.||The majority of power contracts recorded a loss yesterday with weakening gas, coal and oil the main market drivers. Supply concerns in France continued to restrict downward movement on winter contracts, while higher residential consumption limited bearish movement on the prompt.|
|Market Open||Market Open|
|Gas contracts are generally stable this morning as the UK gas system is balanced, with demand levels falling in-line with incoming supply. Another revision in temperatures has offered some support as next week's milder weather is expected to be short-lived and cold weather is forecast to return before the end of the month. Wind levels are also set to drop next week which will lead to a rise in CCGT generation.||Power contracts have moved higher this morning as they continue to track movement on the French market, with an increase in gas contracts also a supportive factor. The current cold weather has also pushed up demand levels, resulting in gains at the front of the curve.|
Brent 1st-nearby prices have dropped this morning, ending this week's bullish trend with Brent now sitting just below $45.9/b. A stronger Dollar has helped to weigh on oil prices, while traders also await news from today's meeting in Doha in regards to the 'freeze deal'.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 43.88ppt and £45.02/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.