Wholesale Market Review

Wholesale Energy Market Review 19 July

Energy Wholesale Market View

Headlines All power and gas contracts fell, reversing the previous week’s gains. Gas contracts were down following the end of unplanned outages, an increase in production from UKCS and a decline in Brent crude oil prices. Day-ahead gas was down 14.0% to 29.6p/th. The contract started the week at a three-month high of 38.3p/th, as

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Wholesale Energy Market Review 12 July

Energy Wholesale Market View

Headlines All baseload power and gas contracts rose this week. Wholesale prices followed a recovery in EU ETS carbon, Brent crude oil and API 2 coal, with the former setting a fresh 11-year high. Prices were further supported by an undersupplied gas system following unplanned outages in Norway, while weaker wind generation led to an

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Wholesale Energy Market Review 5 July

Energy Wholesale Market View

Headlines This week, the majority of baseload power and gas contracts moved lower. However, near-term contracts including day-ahead and month-ahead gas and power contracts rose from last week, with tighter gas supplies and lower wind generation the main drivers. The day-ahead contract was up 12.6% to end the week at £40.7/MWh, a two-week high, while

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Wholesale Energy Market Review 28 June

Energy Wholesale Market View

Headlines The majority of wholesale power and gas contracts fell week-on-week, as above seasonal normal temperatures caused by winds from the Sahara, led to weaker demand for gas, whilst power prices were pressured by an uptick in wind generation. Amid the record-breaking temperatures, day-ahead gas dropped to a two-year low of 25.2p/th on 26 June,

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Wholesale Energy Market Review 21 June

Energy Wholesale Market View

Headlines Baseload power contracts up to and including winter 19 power were down week-on-week, whilst contracts beyond this rose. Power prices mirrored their gas counterparts as warmer temperatures are expected next week. The day-ahead contract was 3.2% lower at £38.0/MWh, a fresh two-week low. Q319 power decreased 3.1% week-on-week to £39.4/MWh. This is the first

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Wholesale Energy Market Review 14 June

Energy Wholesale Market View

Headlines 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

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Wholesale Energy Market Review 7 June

Energy Wholesale Market View

Headlines The majority of baseload power contracts fell week-on-week, with only day-ahead power rising. The contract gained 10.3% week-on-week to £39.3/MWh, following its gas counterpart higher amid cooler temperatures and low wind generation. All seasonal power contracts moved lower, falling 1.0% on average. Winter 19 power declined 1.4% to £55.8/MWh at the end of the

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Wholesale Energy Market Review 31 May

Energy Wholesale Market View

Headlines All wholesale power and gas contracts fell week-on-week. Gas prices have been pressured by forecasts of warmer weather amid comfortable gas supplies, which, combined with a drop in Brent crude oil prices, pushed both day-ahead and winter 19 gas contracts to one-month lows of 27.5p/th and 53.0p/th respectively. Month-ahead gas was down 6.7% to

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Wholesale Energy Market Review 24 May

Energy Wholesale Market View

Headlines Near-term power and gas contracts decreased this week, amid an oversupplied gas system and decreasing demand. Most seasonal contracts moved higher, despite a fall in global commodity prices. Day-ahead gas slipped 1.8% to 29.9p/th, with strong flows from Norway and healthy LNG send-out. Month-ahead gas lost 1.8% to 30.2p/th and July 19 gas fell

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Wholesale Energy Market Review 17 May

Energy Wholesale Market View

Headlines Near-term power and gas contracts decreased this week, amid warmer temperatures and an oversupplied gas system. Seasonal contracts diverged with gas prices following oil prices higher, while power prices were pressured by falling EU ETS carbon prices. Most baseload power contracts decreased this week, with near-term contracts mirroring their gas counterparts and seasonal contracts

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Wholesale Energy Market Review 10 May

Energy Wholesale Market View

Headlines The majority of power and gas contracts rose week-on-week, as cooler temperatures and a recovery in EU ETS carbon supported prices. All near-term baseload power contracts rose, with day-ahead power recovering from recent declines, rising 9.1% to end the week at £46.8/MWh, a near one-month high. Nearly all seasonal power contracts rose, up 1.7%

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Wholesale Energy Market Review 3 May

Energy Wholesale Market View

Headlines The majority of wholesale power and gas contracts were lower week-on-week, as a comfortable gas supply outlook and a fall in Brent crude oil prices pushed contracts lower. Forecasts of temperatures well below seasonal normal levels early in May supported day-ahead gas prices, however, this did not feed into day-ahead power prices which followed

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Wholesale Energy Market Review 26 April

Energy Wholesale Market View

Headlines Wholesale power and gas contracts experienced mixed movements week-on-week. All near-term wholesale power and gas contracts fell, amid comfortable gas supplies and above seasonal normal temperatures. Contracts further along the curve were supported by a further recovery in Brent crude oil, which went above $75/bl for the first time in five months. All near-term

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Wholesale Energy Market Review 18 April

Energy Wholesale Market View

Headlines All wholesale gas contracts fell week-on-week, as the return of gas flows from Norway boosted supplies and weaker demand was expected amid forecasts of warmer weather over Easter weekend. Day-ahead gas dropped 10.6% to 35.3p/th. The contract ended the week 31.9% lower than the same time last year when it was 51.8p/th. All seasonal

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Wholesale Energy Market Review 5 April

Energy Wholesale Market View

Headlines Wholesale power and gas contracts reversed recent trends and moved higher this week. Despite the arrival of seven LNG tankers during the first week of April, the gas system was undersupplied on Friday following a drop in flows from Norway. All baseload power contracts rose week-on-week, following gas counterparts up, while weaker wind generation

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Wholesale Energy Market Review 29 March

Energy Wholesale Market View

Headlines All near-term (up to and including summer 19) power and gas contracts fell this week as gas supplies are forecast to remain comfortable as we move into summer, whilst several LNG tankers are scheduled to arrive in the first week of April. All near-term baseload power contracts, up to and including summer 19, fell

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Wholesale Energy Market Review 22 March

Energy Wholesale Market View

Headlines Wholesale power and gas contracts fell across the board this week, with many contracts hitting new lows. Day-ahead gas fell to a 20-month low as comfortable supplies and mild temperatures continued. This trend drove day-ahead power prices to a 17-month low, despite lower wind generation. All baseload power contracts fell week-on-week. Day-ahead power was

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Wholesale Energy Market Review 15 March

Energy Wholesale Market View

Headlines All wholesale power and gas contracts fell week-on-week, with day-ahead gas dropping to a 20-month low as comfortable gas supplies and mild temperatures continue. Falling gas prices and strong wind generation drove day-ahead power prices to 18-month lows. All baseload power contracts fell week-on-week. Day-ahead power was down 1.0% to end the week at

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Wholesale Energy Market Review 8 March

Energy Wholesale Market View

Headlines Nearly all wholesale power and gas contracts fell week-on-week. Whilst day-ahead power was unchanged at £48.0/MWh, day-ahead gas dropped to fresh 17-month lows as comfortable gas supplies and mild temperatures continued in early March. Gas prices were further pressured by a slip in Brent crude oil prices. Nearly all near-term baseload power contracts fell

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Wholesale Energy Market Review 1 March

Energy Wholesale Market View

Headlines This week, wholesale power and gas contracts experienced mixed movements, as most contracts beyond the month-ahead rose week-on-week. Day-ahead power and gas contracts have fallen week-on-week amid record high winter temperatures and comfortable gas supplies, despite low wind generation during the week. Nearly all baseload power contracts rose week-on-week. Day-ahead power was an exception,

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Wholesale Energy Market Review 22 February

Energy Wholesale Market View

Headlines Nearly all wholesale gas and power contracts fell this week, with day-ahead power the only exception amid forecasts of lower wind generation next week. Wholesale prices have continued to be pressured by milder temperatures, lower demand and comfortable gas supplies, despite three-month high Brent crude oil prices. However, day-ahead power rose 1.2% to end

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Wholesale Energy Market Review 15 February

Energy Wholesale Market View

Headlines All wholesale gas and power contracts fell this week. Prices continue to be pressured by milder temperatures, lower demand and comfortable gas supplies. This fall was despite a recovery in Brent crude oil prices which went above $65/bl for the first time since November 2018. All baseload power contracts fell week-on-week, following their gas

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Wholesale Energy Market Review 8 February

Energy Wholesale Market View

Headlines All gas contracts fell this week, whilst power contracts experienced mixed movements. Prices were pressured by milder temperatures, lower demand and comfortable gas supplies this week. Day-ahead power dropped 1.4% to end the week at £53.8/MWh. The contract had fallen to an eight-month low of £50.8/MWh on 7 February as storm Erik was expected

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Wholesale Energy Market Review 1 February

Energy Wholesale Market View

Headlines All wholesale power contracts and most gas contracts fell this week. Prices were pressured by forecasts of nearer seasonal normal temperatures in February, easing demand, comfortable gas supply margins, and falling commodity prices. All baseload power contracts fell week-on-week. Day-ahead power dropped 8.4% to a seven-month low of £54.5/MWh, following its gas counterpart lower.

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Wholesale Energy Market Review 25 January

Energy Wholesale Market View

Headlines All wholesale power and gas contracts fell this week. Prices have been pressured towards the end of the week by forecasts of warmer temperatures over the weekend, falling commodity prices and a well-supplied gas system. All baseload power contracts fell, with day-ahead power down 7.5% to end the week at £59.5/MWh, weighed on by

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Wholesale Energy Market Review 18 January

Energy Wholesale Market View

Headlines All wholesale power and gas contracts rose this week. Prices have been supported by the recovery of commodity prices, below seasonal normal temperatures and tighter supply margins amid nuclear outages and weaker wind generation. With half of UK nuclear capacity offline due to planned and unplanned outages this week, day-ahead baseload power was up

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Wholesale Energy Market Review 11 January

Energy Wholesale Market View

Headlines Wholesale power and gas contracts experienced mixed movements this week, as most baseload power contracts and near-term (up to and including summer 19) gas contracts followed EU ETS carbon and API 2 coal prices lower, whilst recovering Brent crude oil prices pushed seasonal gas contracts up. Most baseload power contracts fell, with day-ahead, winter

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Wholesale Energy Market Review 4 January

Energy Wholesale Market View

Headlines Nearly all wholesale power and gas contracts fell week-on-week, with day-ahead peak power the exception, up 1.7% to £68.2/MWh. Day-ahead power fell 0.6% to end the week at £62.1/MWh, amid forecasts of higher wind generation early next week. The new month-ahead (February 19) power contract also dropped, ending the week at £63.9/MWh, whilst March

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Wholesale Energy Market Review 21 December

Energy Wholesale Market View

Headlines The majority of wholesale power and gas contracts rose week-on-week, with summer 20 power and gas contracts the exception. Prices have risen despite a 5.6% decrease in Brent crude oil from the previous week, and have found support from surging EU ETS carbon prices, up 14.0%, and weaker wind generation. Day-ahead power rose 2.2%

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Wholesale Energy Market Review 14 December

Energy Wholesale Market View

Headlines The majority of wholesale power and gas contracts rose week-on-week, with day-ahead power an exception as it was supported by strong wind generation whilst colder weather drove gas prices higher. Commodities experienced mixed movements, with both API 2 coal and EU ETS carbon prices rising week-on-week, compared to Brent crude oil which dropped despite

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Wholesale Energy Market Review 7 December

Energy Wholesale Market View

Headlines This week, the majority of wholesale power and gas prices fell, whilst commodities moved in the opposite direction. All gas contracts moved lower, with near-term contracts pressured by high LNG send-out and further arrivals of LNG cargoes. Week-on-week day-ahead gas lost 3.7% to 60.3p/th. Seasonal gas contracts decreased 0.7% on average with the biggest

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Wholesale Energy Market Review 30 November 2018

Energy Wholesale Market View

Headlines This week, the majority of wholesale power and gas prices fell, whilst commodities experienced mixed movements. Prompt wholesale power and gas contracts moved lower, driven by high levels of wind generation and an oversupplied gas system. All baseload power contracts fell this week. The day-ahead contract plummeted 9.7% to £60.5/MWh. High levels of wind

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Wholesale Energy Market Review 23 November 2018

Energy Wholesale Market View

Headlines This week, the majority of wholesale power and gas prices fell, following Brent crude oil and API 2 coal prices lower. Prompt wholesale power and gas contracts were pressured by revised temperature forecasts, which are higher than previously expected for the rest of 2018. Most baseload power contracts fell this week. The day-ahead contract

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Wholesale Energy Market Review 16 November 2018

Energy Wholesale Market View

Headlines All wholesale power and gas prices rose this week on the back of forecasts of below seasonal normal temperatures for the rest of 2018, whilst Brent crude oil and API 2 coal experienced downwards movements. The day-ahead power contract went up 14.7% to an eight-week high of £70.3/MWh, supported by falling levels of wind

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Wholesale Energy Market Review 9 November 2018

Energy Wholesale Market View

Headlines This week, wholesale power and gas prices rose, whilst Brent crude oil and API 2 coal experienced downwards movements. Despite day-ahead gas and power contracts hitting 12 and 14-week lows respectively, prices have been influenced by recovering EU ETS carbon prices and forecasts of below seasonal normal temperatures moving into December. All baseload power

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Wholesale Energy Market Review 2 November 2018

Energy Wholesale Market View

Headlines This week, wholesale power and gas, and commodity markets experienced downwards movements, with day-ahead gas and power contracts both hitting 11-week lows. Continued high LNG send-out, milder weather and falling commodity prices have pressured prices lower across the curve. All baseload power contracts fell this week, with day-ahead baseload power down 8.7% to an

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Wholesale Energy Market Review 26 October 2018

Energy Wholesale Market View

Headlines This week, wholesale power and gas, and commodity markets experienced mixed movements, with month-ahead gas contracts hitting 11-week lows as high LNG send-out is expected to continue into November with several cargoes contracted to 7 November. Both baseload and peak power contracts experienced mixed movements, with the majority of near-term contracts out to winter

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Wholesale Energy Market Review 19 October 2018

Energy Wholesale Market View

Headlines This week, all commodity prices fell for a second week, with EU ETS carbon hitting a two-month low and Brent crude oil dropping below $80.0/bl. Despite pressure from falling commodity prices, near-term wholesale power and gas prices reversed the previous week’s decline and rose. All baseload and peak power contracts to summer 19 rose

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Wholesale Energy Market Review 12 October 2018

Energy Wholesale Market View

Headlines All commodities fell this week, with coal and oil ending multi-week climbs. Pressure from curtailing commodity prices, coupled with an increase in wind output and warmer temperatures, cause wholesale power and gas contracts to retreat, with many also hitting lows on 11 October. However, the recent high prices of gas have attracted several LNG

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Wholesale Energy Market Review 5 October 2018

Energy Wholesale Market View

Headlines Near-term power and gas contracts continued lower this week, whilst seasonal contracts recovered from the previous week’s decline. Week-on-week, day-ahead gas prices dropped 4.3% to 70.1p/th, as the gas system was oversupplied following a pickup in Norwegian flows to the UK. Day-ahead power followed its gas counterpart lower, down 1.3% to end the week

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Wholesale Energy Market Review 28 September 2018

Energy Wholesale Market View

Headlines All power contracts reversed the previous week’s gains, following gas prices lower despite below seasonal normal temperatures expected at the start of next week. Week-on-week, day-ahead gas prices dropped 3.6% to 73.3p/th, but with prices hitting a five-month high of 78.4p/th on 24 September as colder temperatures lead to increased gas demand. Day-ahead power

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Wholesale Energy Market Review 21 September 2018

Energy Wholesale Market View

Headlines All gas and power contracts recovered the previous week’s decline, rising as wind generation is forecast to fall and demand expected to rise early last week. Despite EU ETS carbon experiencing its first weekly average decline in 13 weeks, power prices continued to be supported by commodity markets with gains in Brent crude oil

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Wholesale Energy Market Review 14 September 2018

Energy Wholesale Market View

Headlines All gas and power contracts decreased week-on-week reversing recent trends of sustained upwards price movements. Contracts were weighed on as EU ETS carbon fell from a 10-year high of €25.8/t on 10 September to below €19.0/t towards the end of the week as hedge funds and speculators exited positions and traders chased short-term profits.

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Wholesale Energy Market Review 07 September 2018

Energy Wholesale Market View

Headlines All gas and power contracts increased this week, with front season contracts reaching record highs of any season-ahead contract since 2008. This was due to sustained bullish market fundamentals, including fresh 10-year high carbon prices, five-year high coal prices, and a third consecutive weekly oil price rise. Day-ahead gas prices gained 7.6% to 74.5p/th,

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Wholesale Energy Market Review 31 August 2018

Energy Wholesale Market View

Headlines All gas and power contracts rose this week, with contracts continuing to hit new highs amid bullish market fundamentals, including fresh 10-year high carbon prices, and rising coal and oil prices. EU ETS carbon prices increased 4.9% to average €20.5/t. Prices hit a fresh 10-year high of €21.8/t on 27 August amid low auction

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