14th July 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices on the near curve were pressured down by an oversupplied system, while contracts further along the curve were stable, with support provided by a rise in coal, power and carbon. Power prices moved higher during Monday’s session as weak renewables and a rise in carbon dictated the curve. Feedstocks and coal also increased, while gas was relatively stable.
Market Open Market Open
The system is balanced this morning as gas-fired power generation has increased, offering some support to gas prices. Coal and oil have opened lower, limiting gains on far-curve prices but carbon continues to rise. Power displays mixed movement this morning, with coal & oil markets trading down, while gas and carbon move higher. Meanwhile, the renewable outlook remains weak which has supported the prompt.

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

Brent Summary

Brent 1st-nearby prices have dropped to around $42.7/b, with bearish pressure provided by the Covid-19 situation in the US. In other news, OPEC members are set to meet today & tomorrow to discuss further production cuts.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 33.30ppt and £44.95/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 - 14-07-2020

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