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

Gas Power
Market Close Market Close
Gas prices failed to display a clear trend yesterday, gaining and losing throughout the session. Coal and oil also fluctuated, while oil and carbon were slightly bullish. Power prices ended the session slightly higher despite mixed changes throughout the day. A rise in feedstocks helped to lift contracts, with carbon markets also displaying an increase.
Market Open Market Open
The UK gas system is oversupplied this morning despite cold weather and strong power demand. Near curve gas prices are slightly down on the back of this excess supply, while contracts further out have found some support from a rise in equities. Feedstock and carbon prices have eased down this morning which has weighed on the power curve. Meanwhile, economic indicators are more positive this morning, limiting losses further along the curve.

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

Brent Summary

Brent 1st-nearby prices trade close to $41/b following a decrease overnight as a number of lockdown measures are expected to be re-imposed in the US.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 31.98ppt and £43.85/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 - 02-07-2020

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.