11th August 2020 | Posted by: Rebecca Haughton | Market Analysis

Gas Power
Market Close Market Close
Gas prices sank yesterday in both the UK and on the continent as an uptick in LNG cargos was announced and global gas prices pulled back. Coal also retreated making fuel for power generation cheaper. Oil and carbon made gains yesterday. Power prices in the UK and Germany lost steam yesterday, faltering with a dip in coal and gas prices, despite gains in carbon and positive sentiment from the oil and equities markets.
Market Open Market Open
The system is balanced this morning, spot prices have pulled back and curve prices are flat day on day. Oil and equities are dealing higher in early trade action, coal is down and carbon is up. This morning, the markets are mixed, gas prices are relatively flat day on day, save for spot prices which are lower, coal is down while carbon is dealing higher. UK is up in the spot and curve prices are close to flat day on day.

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

Brent Summary

Brent 1st-nearby prices trade around $45/bl today. Oil prices followed the general trend on markets in the wake of optimistic forecasts on demand by Saudi Aramco during the weekend. The slight improvement in Covid-19 figures in the US contributed to this optimism.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased and commercial electricity increased, closing at 32.28ppt and £44.83/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

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