6th October 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices recorded gains yesterday, taking direction from a rebound in oil and a recovery on the overall energy market. Carbon was the only market to trade sideways, while the front of the curve was pushed higher by an undersupplied system. Power prices climbed higher on Monday, with the larger increases displayed towards the back of the curve. Tighter gas supply limited losses on the prompt but the contract managed to close lower due to a reduced demand outlook for today.
Market Open Market Open
The UK gas system is oversupplied this morning as Norwegian flows have improved and demand is down. Oil & carbon markets remain slightly bullish, while coal is flat resulting in higher prices on the near curve and minimal movement further out. The power curve displays mixed movement this morning, with most contracts trading sideways. Oil and gas have opened slightly higher, while a stronger wind generation outlook for tomorrow has weighed on the prompt.

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

Brent Summary

Brent 1st-nearby prices have rebounded back above $41/b as Donald Trump has returned to the White House following his hospitalisation, offering support to US markets as a financial stimulus package can now be confirmed.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas recorded a small loss, while commercial electricity moved higher, closing at 37.87ppt and £47.12/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 - 06-10-2020

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.