19th May 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices increased across the curve yesterday, pushed higher by a rise in coal and oil which supported the overall energy complex. However, the afternoon saw a few minor price reversals as short-term fundamentals were bearish. Power contracts displayed mixed movement during Monday’s session, finding some support from bullish coal, gas and oil. Wind levels were also expected to fall today which helped the prompt move higher, with cooler weather also a factor.
Market Open Market Open
The UK gas system is balanced this morning despite cooler weather, as flows from Norway have picked up. European markets continue to recover, while Brent has posted another increase, contributing to minor gains on the gas curve this morning. Oil continues on an upward trend this morning which has had a knock-on effect on all energy markets, with power no exception. The Day-Ahead contract has also strengthened once again due to weaker renewables and increased demand.

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

Brent Summary

Brent 1st-nearby prices are nearing $35/b as OPEC and non-OPEC oil producing nations have honoured their agreed production cut commitments.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a small gain – closing at 31.75ppt and £40.13/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 - 19-05-2020

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.