|Market Close||Market Close|
|Gas prices fluctuated strongly during Tuesday’s session, with longer dated contracts holding on to gains and summer contracts closing at a loss. A rise in oil helped to lift the back of the curve, while lower demand weighed on the front.||Power prices moved higher along the curve yesterday, pushed higher by a rise in oil, carbon and equity markets. A weak renewable outlook continued to offer support, while warm weather will lift demand for cooling.|
|Market Open||Market Open|
|The UK gas system is balanced this morning, while commodity markets are little changed, resulting in mixed, but minor movement along the gas curve. Gas-fired power demand remains much higher than last week but warm weather and lockdown measures continue to weigh on overall demand.||Power prices have opened slightly lower this morning as coal and carbon markets are stable-to-bearish. Higher gas-fired power demand has restricted the losses, while the UK has also seen coal added to energy mix for the first time in around two months.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade close to $41/b this morning, with support provided by global production cuts, however, worries in regard to a second wave of the Coronavirus continue to pressure down markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 30.17ppt and £40.85/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.