31st March 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices recorded further losses on Monday as demand levels dropped despite cooler weather, with a milder weather outlook for later in the week helping towards the bearish sentiment. The broader energy complex also remained weak, further weighing on prices. Power prices followed gas and moved down during yesterday’s session, ignoring a rebound in carbon. An expected drop in wind levels today helped the prompt climb higher but the rest of the curve weakened as temperatures are set to improve as the week progresses and commodities decreased.
Market Open Market Open
The UK gas system is oversupplied this morning but overall movement along the gas curve is bullish. Oil has found support from potential talks between the US and Russia, while Chinese economic indicators have also provided some positivity. Power contracts have found direction from a rise in fuel markets, with coal and carbon both following a rebound in oil. Milder weather and an expected uptick in renewable generation have also weighed on the prompt.

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

Brent Summary

Brent 1st-nearby prices displayed another strong loss yesterday but show signs of recovery this morning as Donald Trump announced his intention to speak with Russia in regard to production.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas moved higher, while commercial electricity decreased – closing at 26.90ppt and £33.23/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 - 31-03-2020

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.