12th February 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed minimal movement during Tuesday’s session, with only the Day-Ahead contract showing a significant change; moving down on the back of a milder weather outlook for today. Meanwhile, most commodity markets displayed a small rebound, providing some support along the curve. Power contracts mirrored gas and displayed mixed changes yesterday, with some support provided by strengthening on broader energy markets. An expected rise in temperatures over the coming days, in addition to healthy wind levels helped towards losses on the near-curve.
Market Open Market Open
The UK gas system is balanced this morning as milder weather has reduced demand slightly and Norwegian flows have improved. However, gas prices display small gains as oil markets have found some support which has transferred to other fuel markets. Commodity markets display mixed changes, with oil, gas & coal moving higher, while carbon & feedstocks are stable. As a result, power prices are mostly bullish, with an expected drop in wind levels tomorrow offering support to the prompt.

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

Brent Summary

Brent 1st-nearby prices have inched higher as concerns regarding the spread of the Coronavirus seem to have eased somewhat, helping global commodity markets begin some sort of recovery.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 29.45ppt and £38.33/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 - 12-02-2020

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