28th April 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices saw a mixed day of trading yesterday as the front of the curve found some support from a rise in demand, while the far curve was pressured down by a drop in oil. Some bullish sentiment was also provided by expectations of a gradual lift on lockdowns in Europe next month. Power prices climbed slightly higher on Monday, following gas, with a drop in temperatures and renewable generation tightening supply. Further out, sentiment was largely bearish as coal and oil traded lower.
Market Open Market Open
The UK gas system is oversupplied this morning, while coal and oil display further losses; this has resulted in the majority of gas contracts opening flat or slightly lower. However, a cooler weather outlook has helped to push the prompt higher. Coal & oil display further losses, feedstocks & carbon are also lower and gas is offering very little support in either direction this morning. Power prices have opened down as a result, although a cooler weather outlook has provided some resistance.

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

Brent Summary

Brent 1st-nearby prices dropped below $20/b as last week’s recovery was short lived. Recent losses were mostly technical as traders look to secure their position on the US market.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 30.32ppt and £38.65/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 - 28-04-2020

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