All power and gas contracts decreased this week. Day-ahead power gas fell 6.1% to finish the week at 28.3p/th. Day-ahead power dropped 11.3% to finish the week at £39.3/MWh following gas prices lower, as temperatures unexpectedly rose above seasonal normal levels this week, though are expected to drop again next week. December 2019 gas lost 3.5% to 42.6p/th and January 20 gas dropped 2.5% to 45.3p/th. Seasonal gas contracts fell 2.3% on average with summer 20 gas dropping 2.9% to 39.6p/th. December 19 power fell 1.2% to £49.1/MWh while January 20 power reduced 1.0% to £52.2/MWh. Seasonal power prices slipped 0.8% on average. Summer 20 power fell 1.1% to £45.6MWh, winter 20 contract lost 0.6% to £45.1/MWh. Brent crude oil rose 1.3% to average $61.0/bl, as US stocks saw a boost this week following a surprise hit the week before. US-China trade talks have made progress whilst factory production in Japan sunk to a three-year low, OPEC have made decision to make deeper cuts as OPEC+ countries agree to them. EU ETS carbon increased 0.7% to average €25.5/t as the announcement of general election could shift carbon price focus for the time being. API 2 coal prices dropped 2.7% to average $65.2/t.
Baseload electricity
Day-ahead power dropped 11.3% to finish the week at £39.3/MWh.
December 19 power fell 1.2% to £49.1/MWh while January 20 power reduced 1.0% to £52.2/MWh.
Q120 power slipped 1.0% to £51.5/MWh.
The annual April 20 power contract slipped 0.9% to £49.3/MWh. This is 6.8% lower than the same time last year (£52.9/MWh).
Forward curve comparison
Annual October Contract
Peak electricity
Day-ahead peak power dropped 10.2% to £44.0/MWh, £4.7/MWh above its baseload counterpart.
December 19 peak power fell 1.3% to £55.4/MWh.
January 20 peak power decreased 0.3% to £59.4/MWh.
Annual April 20 peak power was 1.0% lower at £54.9/MWh, £5.6/MWh above its baseload power counterpart.
The contract is 7.5% below its value this time last year (£59.4/MWh).
Forward curve comparison
Annual October contract
Seasonal power prices
Seasonal baseload power contracts
Seasonal baseload power curve
All seasonal power contracts declined this week, going down 0.7% on average.
Summer 20 power fell 1.1% to £45.6/MWh, winter 20 contract also lost 0.6% to £53.0/MWh.
Seasonal peak power contracts were 0.8% lower on average.
Summer 20 peak power fell 1.3% to £49.4/MWh.
Commodity price movements
Oil and Coal
Carbon
Brent crude oil rose 1.3% to average $61.0/bl.
US stocks surged this week following an unexpected hit the week before.
US-China trade talks have made progress whilst factory production in Japan sunk to a three-year low, OPEC have made decision to make deeper cuts as OPEC+ countries agree to them.
API 2 coal prices dropped 2.7% to average $65.2/t.
South Korea announced this week that six older coal-fired power stations were to close by 2021.
EU ETS carbon increased 0.7% to average €25.5/t.
Announcement of general election could shift carbon price focus for the time being.
News this week of emissions from the European carbon market falling by 4% in 2018, with the decrease mainly driven by the power sector. Emissions from the industry sector fell only slightly.
Wholesale price snaphot
Power to make change
We believe that people power can change the world. We are here to help you have a positive impact on the planet. Together we can make a difference.
Staying at the forefront of industry, we embrace and drive change, delivering solutions at pace and scale to meet the modern challenges of energy and sustainability.
