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 generation forecasts. June 20 gas was up 0.1% at 13.75p/th, while July 20 gas decreased 0.3% to 15.25p/th. All seasonal gas contracts declined this week, down by 1.3% on average. Winter 20 and summer 21 gas dropped 0.9% and 0.7% respectively, subsiding to 31.75p/th and 28.60p/th. All seasonal power contracts followed gas prices down, slipping on average by 1.7%. Winter 20 power decreased 1.0% to £40.60/MWh, while summer 21 fell 1.5% to £35.85/MWh. Brent crude oil prices rose 2.1% to average $22.35/bl, as the ease of lockdown restrictions in several countries around the world and the build-up to oil production cuts in May helped to support prices. Starting the week at around $21/bl, Brent crude prices fell back under $20/bl the following day on reports that global storage was reaching near maximum capacity. EU ETS carbon prices did not follow oil prices and ultimately fell 2.6% to average €20.05/t. Carbon prices dropped with lower demand in EUA auctions as a result of a national holiday across most of Europe on 1 May.
Baseload electricity | ||
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Forward curve comparison | Annual October Contract | |
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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Wholesale price snapshot |