The bullish picture for gas and power markets generally continued this week, with most contracts rising or holding onto recent gains. Subsequently, day-ahead gas rose 0.9% to 110.00p/th, supported by a back-drop of low gas in storage across Europe and the UK. Day-ahead power looking at Friday-on-Friday price movements, remained unchanged at £105/MWh, maintaining recent highs, continuing to take direction from record highs in near-term gas contracts. September 21 gas was up 1.8% at 113.18p/th, and October 21 gas increased 2.6% to 115.33p/th. All seasonal gas contracts grew this week, up by 5.1% on average, with both winter 21 and summer 22 gas rising 3.9% and 7.9% respectively, lifting to 115.91p/th and 71.89p/th. Most seasonal power contracts boosted this week, up on average by 3.5%, as winter 21 and summer 22 expanded 1.1% and 5.7% respectively, increasing to £113.25/MWh and £78.25/MWh. Brent crude oil slipped for the second consecutive week this week. As such, prices averaged 3.2% lower than the previous week at $70.19/bl. The most notable price set-backs were observed at the week’s start, driven by news of increased travel restrictions in China amid rising COVID-19 cases, fuelling demand recovery fears. Carbon markets rose for the third consecutive week, building on strong recorded gains. Subsequently the UK ETS rose 3.1% to £48.09/t, with the EU ETS sharing these bullish price movements, up 2.6% to €56.77/t.
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 |