22nd July 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices were relatively stable during Tuesday’s session, ignoring strong gains on coal, oil and carbon markets. Low summer demand helped to cap any upward movement, with an expected rise in renewable power helping to weigh on the prompt. Power prices traded marginally higher yesterday, taking direction from a rebound in carbon. A rise in coal and oil also offered support, while the Day-Ahead contract eased down on the back of an improved wind generation forecast for today.
Market Open Market Open
The system has opened slightly oversupplied this morning as an uptick in wind levels has reduced gas-fired power demand. However, LNG flows into the UK are down, offering support to the front of the curve. Small losses can be seen across the power curve this morning as feedstocks have opened lower, with the exception of gas. The prompt continues to decrease thanks to an improvement in wind availability, while cooler weather has reduced demand.

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

Brent Summary

Brent 1st-nearby price have increased by over $1/b as US crude inventories are expected to be down again in the latest reports.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity was unchanged, closing at 31.23ppt and £42.63/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 - 22-07-2020

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