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

Gas Power
Market Close Market Close
Gas prices were generally stable throughout Tuesday’s session, with an oversupplied system helping to weigh on prices at the front of the curve. A rise in oil offered support further along the curve but any movement was minimal. Power contracts were generally bearish yesterday, with a strong rise in wind generation forecast for today, resulting in a loss on the prompt. Gas markets offered little direction, while oil markets turned bullish, supported by events in the US.
Market Open Market Open
Most contracts trade slightly higher this morning, with the prompt strengthening on the back of a higher demand outlook for tomorrow, although a further increase in Norwegian imports has offered resistance. Further out, prices have been pushed higher by a rise on commodity markets. Wind levels are expected to fall significantly tomorrow, helping the prompt erase yesterday’s losses. Coal has opened unchanged, while oil markets continue to recover for the time being.

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

Brent Summary

Brent 1st-nearby prices continued to increase on Tuesday and trade close to $42.7/b as the US economy shows signs of a brief recovery due to expectations of a financial stimulus package being agreed.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 38.42ppt and £47.49/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 - 07-10-2020

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.