14th September 2020 | Posted by: Rebecca Haughton | Market Analysis

Gas   Power
Market Close Market Close
Gas prices managed minor gains on Friday, despite further contractions which saw carbon, oil and most power prices retrace. Equities ended last week down. Power contracts slumped on Friday, capping off a week of bearish news in energy and equity markets. Power markets gained only in the spot market, while curve prices sank. Weather forecasts had shown milder weather coming into this week, with what appears to be another wave of late summer weather.
Market Open Market Open
This morning, the system has swung into oversupplied on the back of milder weather and the return of Norwegian supplies after pipeline maintenance. This morning, positive news on the COVID fight comes with a return to drug trials for Oxford/Astra Zenica, after suspension last week. Equities and futures lead the charge, coal, oil, and gas are in positive territory. Carbon is up putting more upward pressure on power prices across the UK and Europe.

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

Brent Summary

Brent 1st-nearby prices continue to stabilise somewhat, trading around $40/b this morning.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a slight loss, closing at 35.44ppt and £46.90/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.