|UK gas contracts followed the broader markets lower, along with coal, power and carbon credits. Conventional and LNG storages in the UK and Germany are between 70-75% full as demand remains impaired due to the COVID-19 shut-ins.
|Power prices in the UK and Europe were mostly lower on Friday, following the broader commodity complex and with feedstocks like coal and gas. Despite some occasional bullish movement earlier in the week, power went into the weekend posting losses.
|Full crude stocks in the very short term weighed on oil prices on Monday morning, which could filter through the wider European energy complex. LNG send outs remain at high levels across north western Europe. However, lockdown measures potentially being slowly lifted across Europe could keep prompt contracts stable.
|Several countries have started to present signs of power demand recovery, which could provide support to prices in the coming days. However, rising wind output could also put pressure onto spot power prices which leaves an unclear outlook.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent crude oil went down $0.35/bl to $20.95/bl amid concerns that production cuts will not be implemented in time to offset demand collapse, with the US rig count down to its lowest since July 2016.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas displayed gains, while commercial electricity moved down – closing at 30.75ppt and £39.18/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.