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

Gas Power
Market Close Market Close
Gas prices moved slightly higher on Tuesday, following upward movement across the broader energy complex. Carbon moved down following strong gains on Monday, while a healthier demand outlook weighed on the prompt. Power contracts traded down yesterday, following a downturn in carbon. Commodities were generally supportive, while a cooler and windier weather outlook weighed on spot prices.
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The UK gas system has opened balanced due to a drop in imports from Norway, offering support to the near curve. Contracts further out, were pushed higher by an increase in coal, oil and carbon. Power prices have followed coal, carbon, gas and oil markets which have all opened higher. Meanwhile, new EU carbon targets are expected to be imposed by Brussels which is expected to dictate power prices in the coming months.

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

Brent Summary

Brent 1st-nearby prices have climbed above $40.5/b due to disruptions to US production which will help ease storage capacity concerns.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a loss, closing at 35.63ppt and £48.12/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 - 16-09-2020

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