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, falling 2.2% to end the week at £48.0/MWh, amid forecasts of high wind generation next week. The contract followed its gas counterpart lower early in the week, hitting a fresh eight-month low of £47.3/MWh on 25 February despite low wind generation forecast the following day. Seasonal power contracts reversed the previous week’s losses, gaining 1.6% on average. Both summer and winter 19 power rose 1.4% to £48.5/MWh and £58.4/MWh, respectively. Gas contracts experienced mixed movements. Near-term gas contracts out to Q219 fell week-on-week, whilst seasonal contracts beyond and including winter 19 rose. Near-term gas prices have been weighed on by comfortable gas supplies amid the arrival of several LNG tankers, record warm temperatures, and strong supplies from UKCS and Norway. Day-ahead gas dropped 1.2% to end the week at 44.2p/th. The contract dropped to a fresh 17-month low of 43.9p/th on 25 February. Seasonal gas contracts rose 0.3% on average, with all contracts except summer 19 increasing week-on-week. Summer 19 gas was unchanged at 44.7p/th.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
Peak electricity | ||
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Forward curve comparison | Annual April 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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Wholesale price snapshot |