16th March 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices showed only minor changes during Friday’s session as the slide on global markets halted somewhat. However, further weakening can be expected this week with more and more preventative measure set to be implemented across the world. Power prices followed gas markets closely on Friday and displayed little change, with the only gains displayed towards the front of the curve due to an expected drop in renewable availability.
Market Open Market Open
Gas prices display further losses this morning, pressured down by weaker coal, oil and power markets. CO2 credits have taken a significant hit on the back of the decrease in air travel which has transferred to all associated markets. Power prices display a bearish opening following another decrease in oil, while carbon and feedstocks have also weakened. Slightly cooler temperatures are expected later in the week, combined with lower wind generation which has offered some resistance at the front of the curve.

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

Brent Summary

Brent 1st-nearby prices have dropped below $32/b, pressured down by weak Chinese economic data which will have a knock-on effects across all markets.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 29.77ppt and £38.29/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 - 16-01-2020

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