20th August 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power   
Market Close Market Close
Gas prices strengthened during Wednesday’s session, with Front-Month in particular showing strong gains in the morning. Contracts eased down in the afternoon but the majority of the curve closed at a premium. Power prices were rather volatile yesterday and fluctuated throughout the session. Direction was provided by a rise in gas in the morning but a drop in carbon helped to erase some of the gains.
Market Open Market Open
The system is slightly undersupplied this morning, while coal and oil markets have opened marginally lower. Overall sentiment is stable-to bearish this morning, with an expected rise in renewable power weighing on the prompt. Power prices are largely unchanged this morning, although an improved wind outlook and normal temperatures have helped the prompt record a loss. Commodity markets are also flat, with gas offering little influence.

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

Brent Summary

Brent 1st-nearby prices are stuck around $45.4/b as OPEC led production cuts are helping to support the market at a time of very low demand.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas & commercial electricity decreased, closing at 33,88ppt and £44.88/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 - 20-08-2020

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