| Gas | Power |
| Market Close | Market Close |
| European gas prices ended the week on another bearish note on Friday, pressured by lingering weakness in supply/demand fundamentals. Gas demand remained below seasonal norms overall due to lockdown measures but some signs of a progressive restart in economic activity are emerging. | UK power prices retraced prior gains to settle lower on Friday. Power prices along the curve extended significant losses on the last session of the week, pressured by the weaker gas and carbon. |
| Market Open | Market Open |
| This morning the system is short, and flows from Russia and Norway have dropped off, while LNG send-outs remain robust and storages are nearing 80% full in Germany & the UK. Gas and coal are marginally higher in early trading. | Softer prices for oil and products coupled with a marginal increase in gas and lower carbon are keeping power prices in check this morning. Demand is returning to markets with Germany showing the smallest deviation from normal, while the UK shows the greatest decline from seasonal norm. Economies continue to slowly reopen. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices bounced back thanks to large ongoing cuts in the US. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 29.90ppt and £38.23/MWh, respectively. Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page. |
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