|Market Close||Market Close|
|Gas prices decreased during Monday’ session, following falling oil markets as global economies took a hit due to fresh cases of the Coronavirus. The UK gas system was also undersupplied, offering additional support to the prompt and near-curve.||Power prices decreased along with gas, carbon and oil markets yesterday, ignoring a drop in temperatures which lifted demand. The prompt was the exception to the bullish movement as wind levels were expected to ease down today.|
|Market Open||Market Open|
|The system has moved closer to balance this morning but still remains short, with colder weather also forecast to continue over the coming days. Coal and oil markets display a small rebound but overall sentiment along the gas curve is stable.||Global equity markets have ticked higher this morning following yesterday’s lows, offering some support to the power curve, however, contracts have either opened flat or with a small loss. Weather forecasts are unchanged with temperatures expected to remain below the seasonal norm this week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices plummeted once again despite a brief rebound in the morning, as the impact of the Coronavirus continues to limit global economic growth. At present the only slight sign of support is provided by the potential of further OPEC production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity recorded an increase – closing at 28.75ppt and £40.35/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.