Wholesale Market Review

Wholesale Energy Market Review 5 June 2020

Energy Wholesale Market View

Headlines Most power and gas contracts rose this week, potentially marking a change of course for the GB energy market. Day-ahead gas rose 45.7% to 12.75p/th on forecasts of colder weather next week that will spark a rise in gas demand. Day-ahead power rose 20.8% to £29.00/MWh with a higher gas price, and as forecasts

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Wholesale Energy Market Review 29 May 2020

Energy Wholesale Market View

Headlines Most power and gas contracts rose this week, driven higher by a recovery in their respective day-ahead contracts. Day-ahead gas rose 27.7% to 8.75p/th as gas-for-power demand recovered from the low levels seen late last week. Day-ahead power rose 11.6% to £24.00/MWh, following a significant drop in wind generation compared to the end of

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Wholesale Energy Market Review 22 May 2020

Energy Wholesale Market View

Headlines Gas and power contracts saw mixed movements this week, with the price of nearer-term contracts falling as a result of continued low demand, whilst there were bullish signs for the majority of seasonal power contracts. Day-ahead gas fell 46.7% to a 14-year low of 6.85p/th as extremely low gas-for-power demand weighed on prices. Day-ahead

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Wholesale Energy Market Review 15 May 2020

Energy Wholesale Market View

Headlines Mixed movements were observed in GB wholesale gas and power markets this week; near-term contracts continued to decline on low consumption forecasts amid the coronavirus, while several further reaching contracts followed global commodities higher, with some analysts predicting a quicker bounce-back in demand than was previously expected. Day-ahead gas fell 14.3% to 12.85p/th as

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Wholesale Energy Market Review 11 May 2020

Energy Wholesale Market View

Headlines GB power and gas prices saw mixed movements last week, with several gains in contracts which had previously seen sustained losses amid the COVID-19 outbreak. Day-ahead gas (for delivery last Friday) rose 10.3% to 15.00p/th despite much warmer weather towards the end of last week. The day-ahead power contract followed gas movements and rose

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Wholesale Energy Market Review 1 May 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week as the UK remained under lockdown, muting demand across the country. Day-ahead gas was an exception and rose 20.9% to 13.60p/th following slightly lower temperatures towards the end of the week. Day-ahead power opposed gas and fell 1.4% to £25.25/MWh as a result of higher wind

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Wholesale Energy Market Review 24 April 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell again this week as lockdown measures continued to stifle both power and gas demand. Day-ahead gas fell 17.3% to 11.25p/th, with higher LNG send-out pressuring prices amid an oversupplied as market. Despite falling to a record low of £10.00/MWh early this week, day-ahead power opposed gas and ended the

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Wholesale Energy Market Review 17 April 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week, though some small gains were seen in longer term power contracts. Day-ahead gas fell 12.0% to 13.60p/th on slightly milder temperatures forecast for next week, with oversupply of gas in the market continuing to rise. Day-ahead power fell 21.5% to £22.25/MWh, despite forecasts of lower wind

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Wholesale Energy Market Review 9 April 2020

Energy Wholesale Market View

Headlines Most power and gas contracts rose this week despite no change to lockdown measures announced in the UK. Day-ahead gas fell 3.4% to 15.45p/th on expectation of high temperatures and lowered demand over the Easter bank holiday. Day-ahead power opposed its day-ahead gas counterpart and rose 53.2% to £28.35/MWh. Recovering from an all-time low

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Wholesale Energy Market Review 3 April 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell mixed this week, though a few rises were seen in future winter contracts. Day-ahead gas fell 16.0% to a fresh 10-year low of 16.00p/th on forecasts of decreasing consumption levels, and pushed lower by expectations of very mild weather next week. Day-ahead power fell 36.2% to a new

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Wholesale Energy Market Review 27 March 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell again this week, as a declining global economy has begun to reflect more heavily onto the UK energy market. A decline in forecast consumption and high than expected temperatures has seen day-ahead gas fall 22.6% to 19.05p/th, reaching more than a 10-year low on 27 March. Day-ahead power

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Wholesale Energy Market Review 20 March 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week on declining demand and above seasonal normal temperatures. Day-ahead gas fell 5.4% to 24.60p/th despite a general undersupplied system this week on lowered LNG send-out. Day-ahead power fell 15.8% to £30.75/MWh, despite rising to above £37.00/MWh midweek, with highly fluctuating wind generation the driver behind such

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Wholesale Energy Market Review 13 March 2020

Energy Wholesale Market View

Headlines Most near-term power and gas contracts rose this week, while longer term forward contracts declined on the expected influence of the coronavirus on consumption and the wider economy. Day-ahead gas rose 6.6% to 26.00p/th, on forecasts that temperatures will drop from the seasonally high levels seen this week. Day-ahead power rose 9.8% to £36.50/MWh,

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Wholesale Energy Market Review 6 March 2020

Energy Wholesale Market View

Headlines Most power and gas contracts rose this week, with day-ahead power as the only exception. Day-ahead gas rose 1.7% to 24.40p/th following an increase gas demand. Day-ahead power fell 5.4% to £33.25/MWh despite reaching £43/MWh midweek as significant fluctuations in wind generation saw prices rise and fall this week. April 20 gas was up

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Wholesale Energy Market Review 28 February 2020

Energy Wholesale Market View

Headlines Most power and gas contracts decreased this week, reflecting the movements of the global economy, with the day-ahead contracts as the exceptions. Day-ahead gas rose 6.2% to 24.00p/th, as forecasts of a drop in temperatures saw a rise in expected gas demand. Day-ahead power followed gas and rose 6.8% to £35.15/MWh as forecasts of

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Wholesale Energy Market Review 21 February 2020

Energy Wholesale Market View

Headlines Most power and gas contracts rose this week as the UK domestic market reversed losses seen last week. Day-ahead gas rose 9.7% to 22.60p/th although an influx of LNG did see prices ease towards the end of the week. Day-ahead power rose 25.8% to £32.90/MWh, recovering from record lows to follow other markets higher

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Wholesale Energy Market Review 14 February 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week as mild temperatures and Storm Ciara passed over the country. Day-ahead gas fell 9.5% to end the week at 20.60p/th. Prices were pushed down due to less gas-for-power demand and declining LNG prices and sunk to a five-month low of 20.40p/th on Thursday. Day-ahead power fell

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Wholesale Energy Market Review 7 February 2020

Energy Wholesale Market View

Headlines The majority of short-term power and gas contracts fell this week, with some future seasonal contracts gaining despite substantial losses seen in the day-ahead contracts. Day-ahead gas fell 7.3% to end the week at 22.75p/th, with forecasts of fluctuating temperatures seeing gas extend losses this week. Day-ahead power followed gas and fell 15.9% to

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Wholesale Energy Market Review 31 January 2020

Energy Wholesale Market View

Headlines All power and gas contracts fell this week with the domestic market reflecting the current bearish global markets. Day-ahead gas fell 9.7% to 24.55p/th to follow oil and LNG prices (which hit a 10-year low this week) lower, as an influx in LNG send-out ensured the market was well supplied. Day-ahead power fell 11.0%

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Wholesale Energy Market Review 24 January 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week, driven down by several bearish factors. Day-ahead gas lost 5.9% to 27.20p/th, as greater wind generation later in the week weighed on prices. Day-ahead power dropped 8.1% to £35.40/MWh despite peaking above £40.00/MWh in the middle of the week due to low wind generation. February 20

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Wholesale Energy Market Review 17 January 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week as the mild weather continued into the second half of January. Day-ahead gas lost 1.5% to 28.90p/th, following EU ETS and LNG prices lower. Day-ahead power was an exception, and rose 6.5% to £38.50/MWh, following drop in wind generation at the end of the week. February

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Wholesale Energy Market Review 10 January 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week, with the day-ahead contracts as the exceptions. Day-ahead gas rose 2.1% to 29.35p/th, following an increase in Brent crude oil and Asian spot LNG prices, despite mild weather in the UK this week. Day-ahead power rose 6.3% to £36.15/MWh, with wind generation dropping midweek to leave

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Wholesale Energy Market Review 3 January 2020

Energy Wholesale Market View

Headlines Most power and gas contracts fell this week, with only the day-ahead gas contract as the exception. Day-ahead gas rose 6.5% to 28.75p/th, following higher industrial consumption on return from the festive season. Day-ahead power fell 1.0% to £34.00/MWh with high wind generation throughout the week. February 20 gas was down 6.5% at 32.01p/th,

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Wholesale Energy Market Review 20 December 2019

Energy Wholesale Market View

Headlines The majority of baseload power and gas contracts increased this week. Day-ahead gas was an exception and remained the same at 32.50p/th, following well balanced supply and demand. Day-ahead power fell 13.4% to £36.45/MWh, with prices driven down by rising wind generation towards the end of the week. January 20 gas was down 0.1%

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Wholesale Energy Market Review 13 December 2019

Energy Wholesale Market View

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

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Wholesale Energy Market Review 6 December 2019

Energy Wholesale Market View

Headlines All power and gas contracts fell this week as temperatures rose above 10°C. Day-ahead gas fell 27.8% to 30.60p/th, with record-high LNG send-out this week adding additional downward pressure to prices. Day-ahead power followed its gas counterpart and fell 25.4% to £37.00/MWh as high wind generation extended losses from a general decrease in power

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Wholesale Energy Market Review 29 November 2019

Energy Wholesale Market View

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,

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Wholesale Energy Market Review 22 November 2019

Energy Wholesale Market View

Headlines Most power and gas contracts rose this week, with a few seasonal contracts and day-ahead power being exceptions. Day ahead gas rose 8.8% to 42.0p/th as lower LNG send-out saw the gas market undersupplied towards the end of the week. Day ahead power dropped 14.2% to average £45.5/MWh as wind generation surged midweek. December

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Wholesale Energy Market Review 15 November 2019

Energy Wholesale Market View

Headlines Most power and gas contracts decreased again this week, with the day-ahead power contract the exception. Day-ahead gas fell 3.5% to finish the week at 38.6p/th with high LNG send-out offsetting a drop in temperatures mid-week. Day-ahead power gained 19.4% to finish at £53.0/MWh as wind generation fluctuated heavily throughout the week. December 19

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Wholesale Energy Market Review 8 November 2019

Energy Wholesale Market View

Headlines Most power and gas contracts decreased this week, with day-ahead contracts the exceptions. Day-ahead gas rose 41.6% to finish the week at 40.0p/th, following a forecast drop in temperatures, while day-ahead power gained 13.1% to £44.4/MWh as wind generation dropped mid-week. December 19 gas was up 0.4% at 42.8p/th, and January 20 gas decreased

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Wholesale Energy Market Review 1 November 2019

Energy Wholesale Market View

Headlines 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

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Wholesale Energy Market Review 25 October 2019

Energy Wholesale Market View

Headlines The majority of power and gas contracts decreased this week. Day-ahead contracts were an exception with day-ahead gas jumping 7.5% to 30.0p/th, driven by rising demand amid a drop in temperatures and weaker wind generation. Day-ahead power gained 4.9% to finish the week at £44.3/MWh following gas prices higher. November 2019 gas lost 2.6%

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Wholesale Energy Market Review 18 October 2019

Energy Wholesale Market View

Headlines The majority of power and gas contracts decreased this week. Day-ahead contracts were an exception with day-ahead gas jumping 21.7% to 28.0p/th, driven by rising demand amid colder temperatures and weaker wind generation. Day-ahead power lifted 2.9% to £42.2/MWh, with low levels of wind generation expected on Monday. November 2019 gas lost 1.6% to

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Wholesale Energy Market Review 11 October 2019

Energy Wholesale Market View

Headlines Most near-term gas and power contracts decreased this week; however, long-term contracts moved higher. Day-ahead gas fell 28.1% to 23.0p/th, with warmer than expected temperatures resulting in weaker gas demand. In addition, the arrival of three LNG tankers kept the system comfortably supplied. This also weighed on the month-ahead contract, which slipped 1.4% to

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Wholesale Energy Market Review 4 October 2019

Energy Wholesale Market View

Headlines The majority of wholesale power and gas contracts fell, following a decline in Brent crude oil and EU ETS carbon prices. Day-ahead power and gas contracts were the exception, rising 6.8% and 19.6% to £42.7/MWh and 32.0p/th respectively. Forecasts of cooler temperatures offset predictions of higher wind generation next week. November and December 19

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Wholesale Energy Market Review 27 September 2019

Energy Wholesale Market View

Headlines Nearly all wholesale power and gas contracts, and commodities moved lower. The exception was the day-ahead contracts, with day-ahead power and gas rising 4.6% and 11.5% to £40.0/MWh and 26.8p/th respectively, supported by weaker wind generation and cooler temperatures forecast next week. October and November 19 power dropped 0.9% and 2.2% to £42.0/MWh and

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Wholesale Energy Market Review 20 September 2019

Energy Wholesale Market View

Headlines News of constructive talks between Ukraine and Russia regarding the extension of their gas transit contract and EDF’s announcement that French nuclear reactors are not expected to be shutdown to address safety issues helped reduce gas and power supply concerns and weighed on prices. Day-ahead gas fell 21.6% to 24.0p/th, month-ahead gas lost 15.4%

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Wholesale Energy Market Review 13 September 2019

Energy Wholesale Market View

Headlines All power and gas contracts and all commodity prices increased this week. Power and gas contracts reached new monthly highs driven mainly by a number of developments in Europe. News of safety concerns at a number of French nuclear reactors, leading to concerns over shutdowns to address the issues, the announcement of the closure

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Wholesale Energy Market Review 6 September 2019

Energy Wholesale Market View

Headlines All wholesale power and gas contracts moved lower week-on-week. Gas contracts fell as the arrival of two LNG tankers early in September resulted in higher LNG send-out and led to medium range storage (MRS) reaching 99% capacity. This offset any reduction in flows following maintenance in Norway. Comfortable gas supplies and higher wind generation

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Wholesale Energy Market Review 30 August 2019

Energy Wholesale Market View

Headlines Wholesale power and gas contracts experienced mixed movements. Both day-ahead power and gas were down, falling 4.3% and 5.1% to £39.3/MWh and 27.8p/th respectively. The contracts were supported by periods of higher wind generation and comfortable gas supplies. The scheduled arrival of two LNG tankers from Qatar early in September has also pressured prices,

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Wholesale Energy Market Review 23 August 2019

Energy Wholesale Market View

Headlines The majority of baseload power and gas contracts fell this week, with winter 19 power dropping to £52.1/MWh, the lowest since 4 May 2018, while winter 19 gas ended the week at 46.8p/th, the lowest since 2 August 2017. However, day-ahead power and gas contracts rose, with the former up 14.8% to end the

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Wholesale Energy Market Review 16 August 2019

Energy Wholesale Market View

Headlines Nearly all wholesale power and gas contracts moved lower this week. Day-ahead power dropped to £35.7/MWh, the lowest since 31 May and was pressured by forecasts of higher wind over the weekend and early next week, at 10.0GW on Sunday and 6.3GW on Monday. Both September and October 19 power moved to three-week lows

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Wholesale Energy Market Review 9 August 2019

Energy Wholesale Market View

Headlines The majority of wholesale power and gas contracts were lower week-on-week, supported by the end of maintenance at gas fields in the UKCS and Norway, whilst higher wind generation towards the end of the week pressured power prices. Day-ahead power was down 3.9% to end the week at £41.1/MWh, while day-ahead gas dropped 8.2%

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Wholesale Energy Market Review 2 August 2019

Energy Wholesale Market View

Headlines This week, gas contracts experienced mixed movements, while all baseload power contracts rose. Day-ahead gas was up 9.3% at 30.5p/th, supported by maintenance reducing flows from UKCS. This was despite the gas system ending the week oversupplied by 24mcm/d, due to the rerouting of Norwegian gas to the UK. Seasonal gas contract movements were

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Wholesale Energy Market Review 26 July 2019

Energy Wholesale Market View

Headlines This week, nearly all power and gas contracts dropped week-on-week, with only day-ahead power rising as record breaking temperatures increased cooling demand. Warmer temperatures also supported API 2 coal prices to a three-month high, which in turn saw higher demand for EUAs and lifted EU ETS carbon prices to a 13-year high just below

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Wholesale Energy Market Review 19 July 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2019

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 2018

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 2018

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 2018

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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