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% on average. Winter 19 and summer 20 contracts lifted 3.0% and 2.8% to £58.4/MWh and £49.1/MWh, respectively. Only winter 21 was lower week-on-week, slipping 0.5% to £54.1/MWh. Gas contracts experienced mixed movements, with nearly all near-term contracts, falling, whilst all seasonal gas contracts rose week-on-week. Day-ahead gas rose 6.7% to 37.3p/th, as cooler temperatures supported unseasonal demand, and a drop in flows from Norway left the gas system undersupplied. June and July 19 gas fell 1.4% and 1.7% to 33.3p/th and 34.1p/th, respectively. All seasonal contracts increased week-on-week, up 1.7% on average, with winter 19 gas climbing 2.6% to 54.9p/th. Brent crude oil prices fell for a second consecutive week, dropping 1.8% to average $70.3/bl. Concerns over the tightness of the global market remain, fuelled by the continuation of OPEC+ production cuts, sanctions on Iran and Venezuela further reducing available supplies, and contaminated oil supplies in Russia. API 2 coal prices lifted slightly, up 0.4% to average $70.4/t. Coal prices started the week at $69.7/t but rose to $71.0/t on 9 May. EU ETS carbon prices rose 2.9% to average €26.5/t this week.
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 |