- Market close data on 28th August revealed that the one-year forward price for commercial gas closed at 36.35ppt.
- The rise in gas-fired power demand that was witnessed at the beginning of August, has continued into September, offering support to the near curve.
- The one-year forward price for commercial electricity closed at £48.21/MWh on 28th August.
- With temperatures below the seasonal norm at the end of the month, renewable levels fell while power demand increased.
- Brent prices have increased since last month to $45.1/b as of 28th August, up from $43/b at the end of July.
- Hurricane Laura saw certain regions in the South of the US close, impacting production by almost 2 million barrels per day.
- The US Energy Information Administration estimates that coal’s share of electricity generation will rise to 22% in 2021, up from 18% this year, following more than a decade of coal gradually losing share.
- However, an influx of renewables sees coal power plants in New South Wales and Queensland operating at 60% and 70% capacity, respectively.