|Market Close||Market Close|
|Gas prices were bearish in the main during Wednesday’s session, pressured down by weakening coal and oil following a sell-off on stock markets. Recent cases of Coronavirus in Germany & South Korea pushed traders into cashing in on profits, fearing a new wave of the pandemic.||Power prices were dictated by lower coal, gas and feedstocks yesterday, with oil also displaying a loss. Cooler weather helped to lift demand but this wasn’t enough to result in gains on the near curve.|
|Market Open||Market Open|
|Gas prices have opened flat this morning with coal and oil markets displaying a rebound. The UK gas system is balanced and warmer temperatures are expected next week which will weigh on demand.||Fuel markets are bullish this morning, with feedstocks expected to follow a rebound in oil. An ease to the lockdown has also resulted in higher demand levels, limiting any downward movement on the power curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have recovered from yesterday’s losses but remain below $30/b. Support was provided by Saudi output cuts to the Asian market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 30.70ppt and £39.10/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.