|Market Close||Market Close|
|Gas prices decreased again yesterday as the curve was dictated by a strong drop in oil. LNG send-outs were stable but a decline in imports from Norway and a rise in gas-fired power demand tightened the system, offering support to the prompt.||Power prices were pressured down by falling gas and carbon during Tuesday’s session. A significant drop in oil directed energy markets, with further concerns in regard to a rise in Covid-19 cases. Lower renewable generation levels were also forecast for today, helping to lift the prompt.|
|Market Open||Market Open|
|Gas contracts continue to move down this morning, with coal, carbon and power markets also displaying losses. Oil has rebounded slightly from yesterday’s decrease, while temperatures over the next fortnight have been revised higher which should reduce demand.||Energy markets remain bearish this morning, with power, gas, coal and carbon all easing down and oil the only market to display a rebound. Demand for gas-fired power is expected to increase further tomorrow, in addition to cooler weather which has resulted in a strong gain on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have dropped below $40/b due to concerns of a potential second wave of the Coronavirus which would further impact global demand for oil.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a gain, closing at 34.66ppt and £47.75/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
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.