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

Gas Power
Market Close Market Close
Gas prices traded higher during Wednesday’s session, with tighter supply contributing to gains on the near curve as imports to the UK decreased. Further out, prices were pushed higher by stronger oil and carbon. Power prices were generally stable across the curve yesterday, with a rise in gas limiting any downward movement. A rainy and windier forecast should result in improved renewable supply, weighing on the front of the curve, while commodities offered mixed sentiment.
Market Open Market Open
The system is balanced this morning as lower imports are in line with reduced exports, while cooler temperatures have also lifted demand. Temperatures are expected to fall further next week, while weaker power and carbon has offered some resistance. Power prices have opened lower this morning as fuel markets have eased down and wind/ hydro availability is set to improve. A drop in temperatures should also reduce demand for cooling, weighing on the prompt.

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

Brent Summary

Brent 1st-nearby prices continue to move higher as reduced production and a drop in stockpiles in the US has provided support; Brent currently trades around $42.2/b

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a gain, closing at 36.65ppt and £48.45/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 - 17-09-2020

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