24th March 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
The gas curve saw a brief return to normality yesterday with no extreme fluctuations, as movement was largely driven by supply fundamentals, rather than the current economical climate. Meanwhile, a drop in coal, carbon and power helped towards some losses in an overall bearish session. Power displayed a similar curve to gas, with a drop in coal and carbon also pressuring down contracts. High renewable availability helped to weigh on the prompt but expectations of colder weather offered some resistance.
Market Open Market Open
The system has moved closer to balance this morning even though demand for gas-fired power is low. Contracts have found some support from a cooler weather outlook and an expected drop in wind generation, with coal and carbon also trading higher. The Day-Ahead and near curve power prices are up this morning as temperatures and wind levels are set to decrease, although healthy solar availability has limited the impact somewhat.

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

Brent Summary

Brent 1st-nearby prices display a slight rebound this morning as the US is close to sanctioning a stimulus package worth $2 trillion to help deal with the effects of the Coronavirus,

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 28.21ppt and £34.85/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 - 24-03-2020

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.