|Market Close||Market Close|
|Gas prices traded higher yesterday morning which had a knock-on effect for power and carbon contracts. However, global markets moved down in the afternoon due to a strong rise in US crude stocks and concerns regarding new cases of the Coronavirus. As a result, gas prices ended the session almost unchanged.||Power prices followed gas, moving higher in the morning before settling down before the session’s close. The overall energy complex was bearish, with most coal, oil and carbon contracts trading lower.|
|Market Open||Market Open|
|The UK gas system is slightly oversupplied this morning, helped by a rise in solar power which has reduced gas-fired power demand. Oil has recorded a sizeable loss due to bearish fundamentals in the US and gas prices have moved down across the curve.||New Coronavirus cases in the US have impacted global markets, in addition to the on-going ‘trade war’ with China which has also involved EU nations, the UK and Canada. Weakening equities and commodities have helped to pressure down power contracts this morning.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have dropped towards $40/b again due to number of factors in the US, which include: fears of a second wave of COVID-19, on-going trade disputes and a significant rise in Crude stocks.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 31.24ppt and £42.55/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.