|Market Close||Market Close|
|A milder weather outlook for the coming week and comfortable supply levels helped gas prices end Friday’s session lower. A significant drop in oil prices also helped to weigh on longer dated contracts with concerns regarding a second wave of the Coronavirus in Europe the main market driver.||Power prices followed the overall energy complex and decreased during Friday’s session, although a weak renewable generation outlook for the weekend and the start of this week limited any downward movement on the prompt.|
|Market Open||Market Open|
|Gas prices have started the week on a bearish note, with the larger losses displayed towards the back of the curve. The gas system has opened 5.7mcm long despite strong demand for gas-fired power, while the far curve has found direction from another drop in Carbon EUA and emission prices.||Wind generation is expected to remain low until the middle of the week, increasing reliance on gas-fired power, however, milder weather has reduced demand, helping towards losses at the front of the curve this morning. Meanwhile, the far curve has been pressured down by weaker carbon, while coal and oil are mostly stable.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude remains around $64.5/b as new lockdowns in Europe have impacted demand forecasts, with a global supply glut expected.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 48.12ppt and £59.86/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.