17th April 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices rebounded on Thursday, with a rise in carbon offering support. A reduction in French nuclear output helped European markets move higher, as it could result in a greater reliance on coal and gas. Increased carbon also helped to lift power prices yesterday, mirroring movement on the gas curve. Feedstocks climbed higher, although a windier forecast for today helped the prompt close lower.
Market Open Market Open
Gas markets have been pushed higher by a rise in stock markets which has transferred across commodities. An easing of the lockdown in some countries has also stimulated economic activity, while the supply/ demand picture in the UK is healthy. Sentiment is unchanged this morning with power prices showing gains, with coal, gas and oil all opening stronger. Meanwhile, carbon credits have opened €1 higher than their close, adding to the bullish trend today.

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

Brent Summary

Brent 1st-nearby prices are slightly supportive but any bullish movement is insignificant, OPEC efforts have been undermined by US production levels and demand continues to plummet.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 32.46ppt and £39.90/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 - 17-04-2020

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