13th August 2020 | Posted by: Rebecca Haughton | Market Analysis

Gas Power
Market Close Market Close
Gas prices were little changed after yesterdays trading, front month contracts closed down while longer date contracts were mostly unchanged. A late oil rally lifted US gas boosting European contracts thereafter. Power prices slumped in all markets and across almost all contracts. Falling coal and carbon coupled with directionless gas in the UK and on the continent pressured prices. Gains in oil and US equities could not lift sentiment to provide support.
Market Open Market Open
This morning the system is balanced. Coal, carbon and power are up along with gas while European equities lose gains from yesterday. This morning, the broader energy complex is playing catch up to the gains in oil from yesterday. Coal gas and oil are all in positive territory and power contracts in the UK, Germany and the Nordics are following higher.

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

Brent Summary

Brent 1st-nearby prices trade around $45.4/bl today. OPEC announced they anticipate overall demand to drop more than originally expected. This helped keep a cap on prices late into the evening and this has boiled over into this morning’s trading session as well.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas and commercial electricity decreased, closing at 32.40ppt and £43.60/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.