30th October 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
A number of LNG deliveries are expected to dock in the UK at the start of November but disruption at the Dragon terminal is set to cause issues throughout the month, offering some support. Despite this, sentiment remained bearish thanks to healthy supply, weaker demand and falling commodities. Power prices tracked movement on the gas curve and the majority of contracts decreased. A rebound in carbon provided some bullish support further out but the overall energy complex was weak.
Market Open Market Open
The front of the gas curve displays losses this morning due to a mild weather outlook and improved Norwegian flows. However, LNG send-outs are expected to be disrupted during November, limiting downward movement on the far curve despite weakening oil. A healthy supply/ demand picture for this time of year has pressured down the front of the power curve this morning, with strong wind generation also reducing demand for gas. However, contracts further out have found some support from an increase on carbon markets.

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

Brent Summary

Brent 1st-nearby prices have dropped below $37/b as some European countries have re-implemented full lockdown measures in attempt to control the second wave of COVID-19.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 38.60ppt and £45.71/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 - 30-10-2020

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.