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

Gas Power
Market Close Market Close
Gas prices increased across the curve during Tuesday’s session, with the front of the curve pushed higher by a stronger demand outlook. Further out, contracts found support from a rise in coal, carbon, power and equities, with only the oil market trading lower. Power prices recorded strong gains yesterday, pushed higher by bullish coal, gas, feedstocks and carbon credit prices. A lower wind generation forecast and an expected rise in demand also helped the prompt move higher.
Market Open Market Open
The system remains balanced this morning but spot prices have climbed higher as storage capacity is limited, raising concerns about what will happen with excess supply. Any movement is minor further along the curve as carbon and power prices have eased down. Power prices have corrected down as carbon and oil have decreased, while coal and gas are relatively stable. The prompt is one of the few contracts to move higher due to increased cooling demand required to deal with the hotter weather.

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

Brent Summary

Brent 1st-nearby prices have moved down as US crude stocks were much higher than expected; reported at 1.7 million barrels compared to the predicted 300,000.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 32.05ppt and £42.90/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 - 24-06-2020

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.