14th February 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices showed little movement during Thursday’s session with the exception of longer dated contracts which found support from a rise in oil and coal. A stronger Pound helped to cap upward movement on the rest of the curve, while supply fundamentals were unchanged. Near-curve power prices eased down yesterday on the back of a mild and windy weather outlook. Contracts further along the curve were pushed slightly higher by an increase on coal, carbon and oil markets.
Market Open Market Open
The UK gas system is slightly undersupplied but a milder weather outlook has helped to keep a lid on near-curve prices. An expected rise in LNG deliveries has also helped to apply bearish pressure to the curve, while commodity markets moved in different directions. Mild weather should weigh on demand over the next fortnight and healthy wind generation will reduce reliance on gas-fired power, helping the prompt record a strong loss this morning. Further out, prices are generally stable as commodity markets show little movement.

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

Brent Summary

Brent 1st-nearby prices continue to show signs of recovery as concerns have eased in regards to the Chinese health crisis, with some remaining hope that OPEC production cuts might happen.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 29.98ppt and £39.31/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 - 14-02-2020

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.