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

Gas Power
Market Close Market Close
Gas prices dropped off on Monday as fears of another lockdown impacted energy markets across Europe. Oil also recorded a loss, adding to the bearish pressure, while a weaker demand outlook helped the prompt close lower. Power prices displayed a strong decrease yesterday, following weakening equities and commodities. Most contracts mirrored movement along the gas curve, with an improved renewable generation forecast for today weighing on the prompt.
Market Open Market Open
The UK gas system is oversupplied this morning thanks to mild weather and improved wind generation, reducing demand. This has contributed to downward movement at the front of the curve, although an uptick in oil, coal and carbon offered resistance further out. Power prices are slightly down this morning, with cooler temperatures and improved wind levels weighing on the near curve. Commodities have rebounded slightly, limiting losses towards the back of the curve.

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

Brent Summary

Brent 1st-nearby price have decreased as oil production in the US is set to resume; Brent currently trades around $41.4/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a loss, closing at 35.61ppt and £46.76/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 - 22-09-2020

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.