|Market Close||Market Close|
|Gas contracts shed from their price on Tuesday, continuing to follow the broader energy complex and falling equity markets, resulting in talk of a possible recession. Losses were not as significant as previous sessions but an expected rise in demand today offered additional support to the prompt.||Power prices were the most impacted by a significant drop in carbon, with an EUA auction cancelled due to low demand. Carbon continues to fall as emissions have dropped across Europe due to measures taken to control the current Coronavirus pandemic.|
|Market Open||Market Open|
|The UK gas system is undersupplied this morning, with a drop in wind generation resulting in increased gas-fired power demand. Oil and coal prices have recorded another loss as the trend across all markets remains bearish.||The power curve displays further losses this morning as carbon and feedstock prices continue to slide. Stock markets are down by 3% according to recent reports with no support for prices in sight.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to plummet, now trading below $29/b; Saudi Arabia has increased output by 10 million barrels a day, while industrial demand in the UK and Europe has declined due to uncertainty surrounding the Coronavirus.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 28.53ppt and £35.98/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.