|Market Close||Market Close|
|Gas prices moved higher on Friday, with the near curve and summer contracts finding support from a stronger demand outlook due to a drop in wind power. Oil and coal also increased, lifting prices towards the back of the curve.||Power prices followed gas and traded higher on Friday, ignoring a drop in carbon. Wind and hydro generation levels were also expected to fall this week which helped the prompt add to its price.|
|Market Open||Market Open|
|The UK gas system has opened balanced this morning as gas-fired power demand has grown. Commodity markets are also weaker due to new cases of COVID-19 in the US and china. Despite this, gas prices are slightly bullish but any gains are minimal.||Power contracts continue to find support from gas this morning despite a drop in coal, oil and carbon. Wind levels have plummeted compared to last week, while hydro production is also down as expected resulting in further gains on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are still below $39/b following losses last week. Concerns over a second wave of the Coronavirus and a rise in US stocks are the main market drivers at present.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 29.78ppt and £40.55/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.