Headlines
Most power and gas contracts fell this week as temperatures were above seasonal normal levels. Day-ahead gas was an exception and rose 1.0% to 42.40p/th amid lower LNG send-out, while day-ahead power rose 9.0% to £49.60/MWh on a drop in wind generation late in the week. December 19 gas was down 1.3% at 41.55p/th, and January 20 gas decreased 1.5% to 43.57p/th. Most seasonal gas contracts declined this week, down by 1.6% on average, while both summer 20 and winter 20 gas dropped 3.2% and 2.1% respectively, subsiding to 38.32p/th and 48.37p/th. Seasonal power contracts were mixed this week, but fell by 0.2% on average, as summer 20 power decreased 1.1% to £44.88/MWh, while winter 20 fell 0.7% to £52.13/MWh. Brent crude oil rose 1.9% to $63.69/bl as President Donald Trump flared tensions with China as he signed a bill backing Hong Kong protesters. China has threatened to retaliate, ensuring the US that it would take “firm countermeasures”. EU ETS carbon gained 3.8% to €24.73/t as the EU parliament declared a climate and environmental emergency this week, while API 2 coal climbed 0.5% to $63.99/t.
| Baseload electricity | | |
- Day-ahead power rose 9.0% to £49.60/MWh, following a significant drop in wind generation at the end of the week.
- December 19 power slipped 0.1% to £47.50/MWh and January 20 power also decreased 0.1% to £50.32/MWh.
| | - Q120 power moved 0.1% lower to £49.75/MWh.
- The Annual April 20 contract lost 0.9% to £48.50/MWh, 10.4% lower than the same time last year (£54.11/MWh).
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Forward curve comparison 
| | Annual October Contract 
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| Peak electricity | | |
- Day-ahead peak power was down 11.2% to £55.60/MWh despite an increase in baseload power.
- December 19 peak power declined 0.1% to £53.76/MWh and January 20 peak power increased 0.5% to £57.76/MWh.
| | - The Annual April 20 peak power lost 0.9% to £53.83/MWh.
- This is 11.9% lower than the same time last year (£61.13/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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- Seasonal power contracts were mixed this week, but overall were down on average by 0.2%.
- Summer 20 and winter 20 dropped 1.1% and 0.7% respectively, falling to £44.88/MWh and £52.13/MWh.
| | - Most seasonal peak power contracts declined this week, down 0.2% on average.
- Summer 20 and winter 20 peak power dropped 1.1% and 0.7% respectively, falling to £48.71/MWh and £58.96/MWh.
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| Commodity price movements | | |
Oil and Coal 
| | Carbon 
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- Brent crude oil rose 1.9% to average $63.69/bl.
- Prices were supported by increased tensions in the Middle East after fighting led to the shutdown of a Libyan oilfield.
- Prices are currently sitting 5.6% higher than last year.
- President Donald Trump flared tensions with China as he signed a bill backing Hong Kong protesters. China has threatened to retaliate, ensuring the US that it would take “firm countermeasures”.
- API 2 coal climbed 0.5% to $63.99/t with prices down 24.3% on the same time last year.
| | - EU ETS carbon gained 3.8% to €24.73/t prices.
- EU announcements and lower auction volumes supported prices this week.
- The EU parliament declared a climate and environmental emergency this week.
- The EU wants to assure all necessary budgeting and legislative action is taken to ensure that global warming is kept under 1.5°C.
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Wholesale price snaphot
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