17th July 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close  Market Close
Gas prices traded lower this yesterday as global commodities and equities dip lower, supply fundamentals were also unchanged in a bearish trading session. Power followed gas and decreased yesterday, with an improved supply outlook also weighing on the prompt. Overall commodities weakened due to a drop on oil markets.
Market Open Market Open
Gas prices continue to decrease today following a drop on oil markets and an increase in demand. Flows into Europe are also limited due to annual maintenance at the Nordstream pipeline. Today’s session is a continuation of yesterday’s close with most contracts opening slightly lower, renewables are expected to improve next week which has also weighed on the prompt.

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

Brent Summary

Brent 1st-nearby prices trade around $34.3/b with no real change to fundamentals, as a drop in global inventories has countered plans to ease production cuts.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved slightly lower, closing at 32.81ppt and £44.18/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

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.