The majority of baseload power contracts fell week-on-week, with near-term contracts up to and including August 19 power unchanged. The day-ahead contract was unchanged week-on-week at £39.3/MWh, having risen to a two-week high of £40.5/MWh on 11 June as low wind generation was expected the following day. All seasonal power contracts moved lower, falling 0.3% on average. Winter 19 power declined 0.5% to £55.4/MWh at the end of the week, having started the week at £56.9/MWh. All gas contracts moved lower week-on-week, amid comfortable gas supplies and forecasts of warmer temperatures easing expected LDZ demand. Day-ahead gas was 3.0% lower at 27.7p/th, having peaked at 30.0p/th on 13 June as temperatures were forecast to remain well below seasonal normal the following day. Seasonal contracts fell 1.3% on average, with winter 19 gas 1.3% lower week-on-week at 51.3p/th. Brent crude oil rose for the first time in four weeks, up by only 0.3% to average $61.8/bl, supported by reports of attacks on two oil tankers in the Gulf of Oman. API 2 coal prices were unchanged this week, averaging $64.2/t. Demand for coal in Europe remains relatively low, with total coal imports into Europe at 49mt between January-May, down 10% year-on-year. EU ETS carbon prices reversed the previous week’s decline, lifting 3.3% to average €25.0/t, supported by a drop in auction volumes this week following a public holiday on Monday, and a lack of a bi-weekly Polish auction on Wednesday.
Baseload electricity | ||
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Forward curve comparison
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Peak electricity | ||
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Forward curve comparison | Annual October contract | |
Seasonal power prices | ||
Seasonal baseload power contracts | Seasonal baseload power curve | |
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Commodity price movements | ||
Oil and Coal | Carbon | |
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In April, 14 suppliers decreased the price of their cheapest tariff or launched new cheaper tariffs, while 14 suppliers increased the price of their cheapest available tariff. Eversmart Energy launched a new fixed tariff which was £178/year lower than its variable tariff, while ESB Energy launched an exclusive tariff with uSwitch priced at £978/year, £120/year lower than its next cheapest two-year tariff.