29th July 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices moved slightly higher yesterday, with near curve contracts finding support from a tighter supply/ demand outlook. Coal and carbon also increased, helping towards small increases further out. Power contracts added to their price during Tuesday’s session, following rising coal, gas and carbon. An expected drop in wind generation today also helped the prompt close at a premium.
Market Open Market Open
The UK gas system is balanced this morning thanks to low demand, however, sentiment along the UK power curve remains slightly bullish as coal and carbon continue to rise and the outlook for oil is supportive. The overall energy complex is bullish this morning but gains along the power curve are minor. A further reduction in renewable availability tomorrow has contributed to another increase on the prompt.

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

Brent Summary

Brent 1st-nearby prices display a small loss due to a build in US stocks. However, sentiment could change based on recent data which suggest global demand could improve soon.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a small loss, closing at 30.51ppt and £41.50/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 - 29-07-2020

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.