28th February 2020 | Posted by: Natalie Ormrod | Market Analysis

Gas Power
Market Close Market Close
Gas prices continued to weaken yesterday, under pressure from falling coal, oil, power and carbon prices. Disruption to the LNG deliveries helped to push near curve prices higher, however selling pressure and weak oil and carbon prices saw the curve move lower. Power prices followed Gas yesterday, while the falling carbon prices also helped prices move lower. Only the Day-ahead Power managed a gain on supportive spot Gas.
Market Open Market Open
The Gas system is balanced this morning, on the back of falling demand and warmer weather, as well as improved flows from Norway, Russia and LNG sendouts. Pressure is expected to continue with early trade action seeing losses. The Power market is trading flat to the previous close this morning as traders watch for further downward movement in the Gas market. Warmer weather forecasts could add additional pressure to prices.

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

Brent Summary

Brent 1st-nearby prices continued to display significant losses yesterday. Oil markets continue to react to news of the global spread of Coronavirus and the supply-demand balance from the expected economic impacts.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 28.19ppt and £37.45/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

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