Forward Price curves for power fell to nearly their lowest levels seen in 2019 on the back of high wind generation and a well supplied gas market. October 2019 power forward curve is currently trading just under £50/Mwh.
Winter 2019 gas prices were one of the biggest losers as prices fell all through August due mainly through a combination of an oversupplied system and the expectations of additional LNG deliveries. Day ahead markets remained flat.
The next few months could see both commodities rally as there is the potential for a perfect storm. Winter may truly be coming when you consider that the heating season is only a couple of months away and there is the cascade potential for Brexit and a falling pound to really stretch the trading system.