Most power and gas contracts rose this week, with exceptions being in both day-ahead peak and baseload power contracts. Day-ahead gas rose marginally, lifting 0.1% to 42.55p/th, despite gradually increasing temperatures throughout the week, correlated with periods of system oversupply. Conversely, day-ahead power fell significantly, falling 59.0% to £45.15/MWh, reflecting a period of notably high prices from the week prior, following price spikes from tight supply margins and corelated low wind output. However the day-ahead baseload power contract was weighed upon by periods of increased wind generation and wavering demand throughout this week. All seasonal gas contracts rose this week, up by 4.4% on average, while both summer 21 and winter 21 gas increased 7.7% and 5.3% respectively, lifting to 35.91p/th and 44.37p/th. All seasonal power contracts boosted this week, up on average by 2.6%, as summer 21 and winter 21 expanded 4.6% and 3.5% respectively, rising to £46.50/MWh and £52.60/MWh. Brent crude oil climbed for the fifth consecutive week, lifting 2.7% higher from the previous week to average $49.26/bl. Oil prices continued to rally on COVID-19 vaccination developments, creating a more positive demand outlook whilst also supported by global equity markets. EU ETS carbon climbed for the fifth consecutive week in parallel, rising 2.8% to average €30.03/t this week. Prices broke the €30.00/t mark across 9th to 11th December. Carbon prices benefitted largely from EU leaders reaching a deal on more ambitious and robust emissions cuts.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
Peak electricity | ||
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Forward curve comparison
| Annual April 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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