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

Gas Power
Market Close Market Close
With the exception of the prompt, gas contracts climbed higher on Thursday, following increases on coal, oil, carbon and power markets. A rise in wind levels and a warm weather outlook helped to pressure down the Day-Ahead contract. Power contracts moved higher yesterday, taking direction from a rise in carbon, coal and feedstock prices. Wind levels improved with similar levels forecast for today but renewable generation was still considerably lower than last week.
Market Open Market Open
The UK gas system is oversupplied this morning which has weighed on the prompt once again. The rest of the curve is generally stable with carbon showing little change and oil showing only a minor increase. Gas, coal and carbon markets are rather flat this morning which has resulted in mixed but insignificant movement along the power curve. The energy mix is similar to yesterday, while warmer weather next week could result in a strong rise in cooling demand.

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

Brent Summary

Brent 1st-nearby prices have climbed above $41.5/b with OPEC led productions continuing to support the market.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 31.36ppt and £41.35/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 - 19-06-2020

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