27th March 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices continued to ease down during Thursday’s session, helped by a weaker demand outlook and a lack of positive indicators on global markets. Coal, carbon and oil prices all traded lower and applied additional bearish pressure to the back of the curve. Power prices were dictated by other energy markets, with coal, carbon, oil, gas and feedstocks all ending the session at a discount. A slight uptick in wind levels was also forecast today, although this was expected to coincide with less solar availability.
Market Open Market Open
The UK gas system is oversupplied this morning as demand is down and renewables have picked up marginally. Commodity markets also continue to weaken and losses can be seen across the gas curve. Renewable generation is up this morning, although the improvement is minor, however this has helped to weigh on the prompt with an oversupplied gas system also having an impact. Meanwhile, commodities continue to move down and power prices have opened lower.

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

Brent Summary

Brent 1st-nearby prices decreased yesterday and trade below $27/b again, prices are around what they were in 1998 following the Asian financial crisis.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 26.46ppt and £34.03/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 - 27-03-2020

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