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

Gas Power
Market Close Market Close
Gas prices stabilised in the afternoon and displayed losses by the session’s close. Equity markets dropped off, along with oil and coal as EU & US economies showed weak data. Power and Carbon allowance contracts also closed lower. Power prices displayed mixed movement during Thursday’s session, with spot and front-month contracts trading slightly higher. Losses further along the curve were driven by weakening coal, gas and feedstocks.
Market Open Market Open
Equities have recovered this morning, pushing energy markets higher with them. Gas has opened at a premium, with tighter demand/ supply supporting summer contracts and the prompt. Power contracts have followed gas and increased this morning, dictated by a rebound on stock markets. Carbon is showing the biggest increase, while improved renewables weigh on the prompt.

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

Brent Summary

Brent 1st nearby prices have dropped below $43/b due to weak economic data released in the US. However, prices show signs of recovery this morning but overall sentiment remains flat.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 30.53ppt and £42.00/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 - 31-07-2020

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.