Headlines
Most power and gas contracts fell this week, with the day-ahead and a few seasonal contracts as the exceptions. Day-ahead gas rose 6.2% to 32.50p/th, following colder temperatures on average this week. Day-ahead power rose 13.8% to £42.10/MWh, with lower wind generation forecast for the start of next week. January 20 gas was down 7.5% at 36.39p/th, and February 20 gas decreased 6.9% to 37.17p/th. Most seasonal gas contracts declined this week, down by 2.8% on average. Summer 20 and winter 20 gas dropped 5.6% and 3.8% respectively, subsiding to 33.12p/th and 44.19p/th. Most seasonal power contracts also declined this week, down on average by 1.2%, as summer 20 power decreased 2.4% to £41.42/MWh, while winter 20 fell 1.6% to £49.70/MWh. Brent crude oil rose 3.3% to $64.27/bl as oil prices reacted positively to a tweet by US President Donald Trump this week that the US was getting “very close to a big deal with China”. EU ETS carbon reversed last week’s losses gaining 1.6% to €24.92/t as the Conservative party won a working majority in the UK general election this week. API 2 coal lost 3.8% to $59.72/t as prices dipped below $60.00/t for the first time since July 2016.
| Baseload electricity | | |
- Day-ahead power rose 13.8% to £42.10/MWh, following colder temperatures on average this week.
- January 20 power slipped 5.3% to £44.75/MWh and February 20 power decreased 4.2% to £45.49/MWh.
| | - Q120 power moved 4.0% lower to £44.59/MWh.
- The Annual April 20 contract lost 2.0% to £45.56/MWh, 19.1% lower than the same time last year (£56.35/MWh).
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Forward curve comparison 
| | Annual October Contract 
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| Peak electricity | | |
- Day-ahead peak power was down 10.1% to £47.00/MWh, £4.90/MWh above its baseload counterpart.
- January 20 peak power declined 1.9% to £53.01/MWh, and February 20 peak power decreased 4.3% to £51.49/MWh.
| | - The Annual April 20 peak power lost 1.7% to 50.93/MWh.
- This is 19.8% lower than the same time last year (63.48/MWh).
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Forward curve comparison 
| | Annual October contract 
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| Seasonal power prices | | |
Seasonal baseload power contracts 
| | Seasonal baseload power curve
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- Most seasonal power contracts declined this week, down on average by 1.2%.
- Summer 20 power decreased 2.4% to £41.42/MWh, while winter 20 fell 1.6% to £49.70/MWh.
| | - Most seasonal peak power contracts declined this week, down £1.5% on average.
- Summer 20 and winter 20 peak power dropped 1.9% and 1.5% respectively, falling to £45.31/MWh and £56.56/MWh.
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| Commodity price movements | | |
Oil and Coal 
| | Carbon
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- Brent crude oil gained 3.3% to $64.27/bl.
- Oil prices reacted positively to a tweet by US President Donald Trump this week that the US was getting “very close to a big deal with China”.
- The President signed off on a deal to delay what would have seen increased tariffs on China coming into effect on 15 December.
- API 2 coal lost a further 3.8% to $59.72/t as prices dipped below $60.00/t for the first time since July 2016.
| | - EU ETS carbon reversed last week’s losses gaining 1.6% to €24.92/t as the Conservative party won a working majority in the UK general election this week.
- Stability was provided to EU ETS prices this week as previous uncertainty over the outcome of the UK election was supported by relatively low auction volumes.
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Wholesale price snapshot
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