7th February 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices moved down yesterday morning but the bulls took control in the afternoon and prices ended the day almost unchanged. Overall commodity markets were slightly bearish with carbon, coal, oil and power price trading down. Power prices displayed losses yesterday, with weaker carbon and coal helping to weigh on prices across the curve. An expected rise in wind generation today helped to pressure down the prompt, with a milder weather outlook weighing on the rest of the near-curve.
Market Open Market Open
The UK gas system has opened long this morning on the back of weaker demand, helped by improved wind levels. Milder weather is also expected next week, with commodity markets providing little direction. As a result, near-curve gas prices are slightly weaker and contracts further out are mostly flat. Power prices are mostly stable this morning, with the majority of movement displayed at the front of the curve as a milder and windier weather outlook has helped towards losses.

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

Brent Summary

Brent 1st-nearby prices continue to weaken as further OPEC production cuts have yet to be announced. The impact of the Coronavirus continues to dictate the market and prices trade around $55/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 29.99ppt and £38.73/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 - 07-02-2020

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