26th May 2020 | Posted by: Rebecca Haughton | Market Analysis

Gas Power
Gas Market Close Power Market Close
Gas trading took a break yesterday for the UK bank holiday, the energy complex rose with statements form the IEA and Russia that suggest the global oil market will balance later this summer. Power markets roared yesterday making gains in longer dated contracts across the continent, while the UK took the day off for a bank holiday.
Gas Market Open Power Market Open
This morning the system is balanced. European equities are up following on gains from Asia and further strengthening oil prices. Gas markets are a touch softer, dealing slightly lower along with power and carbon. European energy markets look soft this morning, with gas and carbon dealing slightly lower and power losing steam after yesterdays gains. Warmer than normal temperatures and low wind output provide no clear direction for spot prices, leaving markets to flounder in early trade action.

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

Brent Summary

Brent 1st-nearby prices have traded higher this morning, reversing the previous session losses as oil producers continued their disciplined approach in cutting output and oil demand increases.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 30.75ppt and £40.25/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.