25th September 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices decreased yesterday, shaking off the recent bullish sentiment seen in previous sessions. A very strong wind generation forecast for today helped the prompt record a loss but a colder weather outlook limited any decreases on the rest of the near curve. Power markets closed lower on Thursday, taking direction from weaker gas. Wind levels were expected to pick up significantly today which helped the prompt shed from its price; September 2020 renewable levels have been broadly inline with last year’s data.
Market Open Market Open
Gas displays minor losses this morning as oil markets are flat and coal & carbon markets have eased down. A drop in temperatures continues to offer resistance as it will result in higher gas demand but healthy renewables have reduced the need for gas-fired power. Power prices continue to ease down this morning, although any downward movement is minimal. Wind levels are set to drop over the weekend, helping the prompt record a strong gain, while the rest of the curve has followed the gas market.

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

Brent Summary

Brent 1st-nearby prices dropped below $40/b yesterday as a ceasefire in Libya has led to a planned increase in production, from 100,000 barrels a day, to 260,000 barrels a day.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 35.91ppt and £46.97/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 - 25-09-2020

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