5th June 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices eased down towards the end of Thursday’s session, helped by a slight downward correction in oil. However, prices recovered a little in the afternoon, with some longer dated contracts closing in positive territory. Power prices mirrored their gas counterparts and traded higher yesterday. An expected rise in wind generation today helped to weigh on the prompt but levels are set to fall next week, while cooler weather is forecast to continue.
Market Open Market Open
The system is slightly oversupplied this morning, limiting some upward movement on the near curve but overall sentiment is bullish as prices continue to follow rising oil and equities. Power prices are little changed this morning as carbon and feedstock markets have stabilised, while gas and coal only show minor changes. The prompt has moved higher ahead of the expected drop in renewable availability next week.

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

Brent Summary

Brent 1st-nearby prices trade just below $40/b as talks between OPEC+ members have been positive in terms of extending production cuts.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 30.58ppt and £40.73/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 - 05-06-2020

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.