1st April 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices opened Tuesday’s session at a premium but eased down throughout the day as a warmer weather forecast and the national lockdown is expected to reduce demand. Oil prices also corrected downwards towards the end of the session, resulting in further losses. Power contracts displayed mixed movement yesterday with an improved renewable generation and milder weather outlook weighing on the front of the curve. Further out, most prices struggled to erase their early morning gains.
Market Open Market Open
The UK system is balanced this morning and oil displays a further decrease, contributing to minor losses on the gas-curve. Coal, carbon and power are also weaker, while milder weather is forecast for later in the week. Power prices trade down this morning, following a drop in feedstocks and carbon. A healthier supply/ demand outlook is another bearish factor, while oil has also decreased.

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

Brent Summary

Brent 1st-nearby prices have dropped back below $26.5/b as the OPEC production cut agreement has expired and nations are now free to produce as much as they want.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas moved higher, while commercial electricity increased due to the expiry of Apr-20 & Q-2 – closing at 30.20ppt and £36.73/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

energy price graph - 01-04-2020

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.