2nd June 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices ended Monday’s session at a discount, ignoring small increases on coal and oil markets. Warm weather helped to reduce demand levels and keep a lid on price at the front of the curve. Power prices were pressured down by a drop in gas and carbon yesterday, although weak wind generation helped the prompt move higher despite warm temperatures.
Market Open Market Open
Gas has opened higher this morning with coal and oil displaying further gains. An expected drop in temperatures tomorrow has helped the prompt climb higher, while Norwegian and LNG flows are also down, tightening the system. Energy markets are supportive this morning, with coal, gas and oil all trading higher. This has resulted in gains along the power curve, with a cooler weather outlook and reduced solar availability tomorrow lifting the prompt.

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

Brent Summary

Brent 1st-nearby prices moved higher yesterday as markets are optimistic that Russia will choose to extend production cuts; Brent currently trades around $38.3/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 29.53ppt and £39.85/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 - 02-06-2020

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.