23rd July 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed mixed movement yesterday, with small gains displayed at the front of the curve and longer dated prices recording a loss. Prices were dictated by weaker LNG flows and changes on commodity markets. Power prices moved higher on Wednesday morning and held on to most of the gains by the session’s close. Gas and carbon failed to offer any direction but coal moved higher, while cooler weather and an improvement in wind generation kept a lid on the prompt.
Market Open Market Open
The UK gas system is oversupplied this morning, while the overall energy complex is bullish; as a result, gas prices are mostly flat this morning. Carbon markets are also stable, while an expected drop in renewable power tomorrow has lifted the prompt. Gas, coal and oil markets have all opened slightly higher this morning which has offered support to the power curve. Meanwhile, the Day-Ahead contract has moved slightly higher with an expected dip in renewable availability tomorrow.

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

Brent Summary

Brent 1st-nearby prices are little changed from yesterday’s open, directed by US markets as the Dollar has weakened but equities have increased.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity was unchanged, closing at 30.83ppt and £42.20/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 - 23-07-2020

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