10th June 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas markets moved down during Tuesday’s session, ignoring increases on oil markets and a slight gain in carbon. High storage levels helped to weigh on the curve, despite higher demand compared to last week. Power prices decreased across the curve yesterday, following downward movement on the gas curve and overall sentiment on global energy markets. However, cooler weather and weak renewables limited losses on the prompt.
Market Open Market Open
The UK gas system is balanced this morning, helping towards losses on the near curve. Oil and coal markets have also opened lower, while carbon is stable, resulting in some losses further along the curve. Power prices are slightly down this morning, mirroring movement on the gas curve. Temperatures are expected to pick up over the coming days which should result in more solar availability but wind levels are expected to remain low.

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

Brent Summary

Brent 1st-nearby prices have opened lower this morning as preliminary storage data in the US suggests an increase of 8.5 million barrels which is expected to be confirmed later in the session.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 29.76ppt and £40.18/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 - 10-06-2020

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.