20th July 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices stabilised during Friday’s session on the back of mixed movement across commodity markets. Coal and carbon ended the day higher, while oil traded down. Demand for gas was also higher due to low renewable power and cooler weather. Power prices moved higher on Friday despite little in the way of support provided by gas. Coal and carbon markets helped to lift prices, while low renewable output helped the prompt to increase.
Market Open Market Open
The UK gas system is balanced this morning, while commodities and equities are down. Oil has opened lower which has weighed on all energy markets, with the majority of gas contracts displaying a small loss. All markets, including power are down this morning, with carbon displaying the biggest losses. A rise in COVID-19 cases across the world has also impacted equity markets, while renewable generation continues to underperform.

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

Brent Summary

Brent 1st-nearby prices decreased over the weekend as the market continues to react to an agreement to ease production cuts next month. Meanwhile, China has added 1 million barrels of crude oil to the international market as it sells off excess supply.

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 32.21ppt and £43.57/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 - 20-07-2020

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.