11th February 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices decreased on Monday, pressured down by falling coal and oil markets. Healthy renewable power reduced gas demand, further contributing to losses at the front of the curve, while milder weather was forecast for later in the week. Power prices followed gas and traded down during Monday’ session, while a drop in oil, coal and carbon also helped to weigh on prices. Strong wind levels were set to continue today but the prompt found some support from a drop in temperatures.
Market Open Market Open
Fundamentals are largely unchanged this morning, although colder weather has lifted demand, however milder temperatures are expected during the majority of February. Prices were mostly flat at the start of the session as the system was undersupplied, providing some bullish resistance. Power prices are stable with little direction provided by gas and no change to the weather forecast. Feedstocks are trading around yesterday’s levels, while oil displays a rebound from its latest lows to trade close to Monday’s opening.

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

Brent Summary

Brent 1st-nearby prices are relatively stable as OPEC members were unable to agree on new production cuts which was the only news that could have provided significant support at present.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 29.01ppt and £37.88/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 - 11-02-2020

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