11th March 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices showed a slight recovery yesterday, following minor rebounds on commodity markets. Upward movement along the gas curve was limited by a milder weather outlook, although a slight drop in wind levels was forecast for today, increasing gas-fired power demand. Power prices climbed higher during Tuesday’s session with direction provided by a rise in gas, coal, carbon and feedstocks which were all dictated by the oil market. The prompt found some support from an expected drop in renewables today, although levels should remain healthy overall.
Market Open Market Open
Gas contracts are mostly stable this morning, mirroring sentiment displayed by coal, oil and carbon markets. Global equity markets are down and the demand for oil remains weak, with no end in sight for the current bearish trend. The Bank of England has cut interest rates this morning due to the spread of the Coronavirus, while traders wait to see what economic changes will occur in the US. Power prices display minor losses as any recovery on commodity markets was brief.

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

Brent Summary

Brent 1st-nearby prices are little changed this morning, following a temporary rebound yesterday. The Coronavirus is the main talking point as countries take economic precautions to protect themselves.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 29.71ppt 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 - 11-03-2020

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