|Gas contracts continued to shed from their price on Thursday, with the larger losses displayed in the afternoon. Contracts were offered some support in the morning by a rise in oil but the front of the curve was dictated by healthy supply and storage levels.
|Feedstock markets were closed yesterday, weighing on the front of the power curve. Contracts further out found support from a rise in oil and carbon, while a weak renewable generation outlook for today pushed the prompt higher.
|Gas prices are little changed this morning, although the prompt has moved down thanks to an oversupplied system. Oil continues to recover slowly, while countries around the world are planning how they will end their respective lockdowns, providing further market optimism.
|Power prices have found little in the way of support this morning, with only oil displaying bullish sentiment. Carbon and gas have opened lower, while feedstocks are flat. As a result, the majority of prices have eased down this morning.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved higher as some smaller oil producing nations, including Kuwait have reduced output ahead of schedule. Tensions between Iran and the US also threatens to disrupt oil transit.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity displayed a gain – closing at 30.67ppt and £39.68/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.