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

Gas Power
Market Close Market Close
Gas prices eased down yesterday, with coal, oil and carbon markets all closing lower, contributing to losses at the back of the curve. The front of the curve was dictated by a colder weather outlook, with a slight drop in renewable power also expected today. Power prices decreased yesterday, following downward movement on coal, gas and oil markets. Wind levels were forecast to drop slightly today which helped the prompt record a small gain.
Market Open Market Open
The UK gas system is balanced this morning, with maintenance in Norway cutting flows to the UK, ending a brief period of oversupply. Prices are up across the curve, dictated by tighter supply and a rebound on commodity markets. Power prices have followed gas and trade higher this morning, with coal and carbon also displaying a rebound following yesterday’s losses. The prompt displays an increase with another minor drop in renewable generation expected tomorrow.

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

Brent Summary

Brent 1st-nearby prices fell below $42/b yesterday, levels not seen since the end of June. Fundamentals are unchanged, while tensions between the US & China continue to cause volatility.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 35.65ppt and £47.10/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 - 08-09-2020

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