30th March 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices capped off an overall bearish week with further losses on Friday following a global sell-off on equity markets which impacted commodities. Meanwhile, supply fundamentals also helped to weigh on the near curve, with an improved supply outlook forecast for this week. Power prices moved in contrast to gas and displayed some gains during Friday’s session, with an expected drop in temperatures offering support to the prompt and front-month.
Market Open Market Open
Oil prices display new lows this morning which has applied some downward pressure to the back of the curve. However, near curve prices have found support from a rise in demand on the back of cooler weather. Spot prices display further gains this morning as colder weather has lifted demand, with an expected drop in wind levels tomorrow helping the prompt climb higher. Further out, weaker commodities continue to weigh on prices.

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

Brent Summary

Brent 1st-nearby prices continued to decrease towards the end of last week, taking direction from overall weakness on global economies.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 26.00ppt and £33.38/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 - 30-03-2020

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