8th April 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Commodities continue to mirror movement on equity markets which, in turn has dictated gas prices, with the majority of contracts displaying gains yesterday. Prices eased down towards the end of the session but still ended the day higher. A rise in feedstocks and carbon helped to lift power contracts yesterday. A drop in renewables also offered support, with similar levels forecast for today, helping the prompt close at a premium.
Market Open Market Open
Early morning trading saw most of yesterday’s increases cancelled out, with coal, power and carbon all moving down. Oil prices have also eased off slightly as markets await the outcome of the talks between major producers. A warmer weather outlook and a downward correction in gas has helped towards losses across the power curve this morning. Wind and solar levels are also expected to pick up slightly over the coming days.

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

Brent Summary

Brent 1st-nearby prices retraced some of the previous day gains as some experts doubt whether any production cuts will be significant enough.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 32.68ppt and £40.03/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 - 08-04-2020

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