26th June 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices moved down yesterday, tracking movement on overall energy markets following a sell off on trading floors. Oil, coal and carbon all displayed losses in a very bearish session. Power prices were pressured down by a drop in feedstocks, gas and carbon during Thursday’s session. Warm weather helped to limit downward movement on the prompt, as demand for cooling has increased.
Market Open Market Open
The UK gas system is oversupplied this morning, helping the Day-Ahead contract to open lower. Meanwhile, overall markets have rebounded, following a recovery in US equities. As a result, most gas contracts display minor gains. Power, like gas has opened slightly higher this morning, taking direction from a rise in oil, carbon and feedstocks. However, overall sentiment remains bearish as economies are still very uncertain.

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

Brent Summary

Brent 1st-nearby prices have climbed back above $41/b due to improved demand forecasts. However, a rise in US stocks and new cases of COVID-19 continue to offer resistance.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved higher, closing at 31.09ppt and £43.93/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 - 26-06-2020

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.