This week represented another bullish week for gas and power contracts, with significant gains most pronounced in shorter-term contracts. Day-ahead gas rose 35.5% to 225.00p/th, continuing to benefit from an on-going tighter global gas supply outlook. The day-ahead contract also reached a record high on 1 October at 225.00p/th. Day-ahead power trends mirrored the gas counterpart, subsequently rising 55.8% to £215/MWh, with the bullish price point set in short-term gas contracts supporting power prices. This was further exacerbated by lowering wind outturn as the week matured. November 21 gas was up 36.2% at 249.26p/th, and December 21 gas increased 37.2% to 255.10p/th. Most seasonal gas contracts lifted this week, up by 8.6% on average, while both summer 22 and winter 22 gas increased 25.9% and 24.0% respectively, lifting to 116.00p/th and 118.29p/th. The majority of seasonal power contracts also boosted this week, up on average by 16.2%, as summer 22 and winter 22 expanded 22.4% and 20.6% respectively, rising to £120.00/MWh and £123.00/MWh.
Baseload electricity | ||
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Forward Curve Comparison
| Annual October Contract | |
Peak electricity | ||
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Forward curve comparison
| Annual October contract
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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
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