15th April 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices decreased on Tuesday, taking direction from weaker coal & oil, as any support provided by OPEC production cuts was quickly erased. Am undersupplied system limited any losses on the prompt but the short-term supply/ demand outlook is healthy. Power prices were pushed lower by a drop in coal, carbon and gas yesterday. An expected rise in renewable power availability helped to weigh on the near curve, in addition to warmer temperatures.
Market Open Market Open
The UK gas system remains undersupplied this morning despite a drop in gas-fired power demand, However, gas prices continue to weaken slightly, following further losses on the oil market and high storage levels. Power prices have opened the session lower on the back of falling carbon contracts. Coal and gas markets are also stable-to-bearish, while the supply/ demand picture is comfortable.

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

Brent Summary

Brent 1st-nearby prices are trading down as US shale drillers have not agreed to OPEC led production cuts. Prices are dictated by weak demand and an expected recession.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 31.54ppt and £38.63/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 - 15-04-2020

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