7th July 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices continued to strengthen yesterday, following European markets and bullish sentiment on the overall energy complex. Power, coal, carbon and oil all moved higher, in addition to a rebound in global equities. Power contracts displayed strong gains on Monday, outpacing increases seen on gas and carbon markets. A strong rise in feedstocks provided additional bullish pressure, with a weaker wind outlook also supporting the prompt.
Market Open Market Open
The system has moved closer to balance as wind levels have dropped significantly, lifting demand for gas-fired power. LNG send-outs have improved, preventing the system from falling short and gas prices are little changed this morning as a result. Power prices are generally stable this morning as gas and coal markets are flat, while oil and carbon have retraced some of yesterday’s gains.

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

Brent Summary

Brent 1st-nearby prices moved slightly higher yesterday but have corrected down overnight to trade around $43.1/b this morning, with no major changes in terms of fundamentals.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity traded higher, closing at 33.71ppt and £45.73/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 - 07-07-2020

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.