Most near-term power and gas contracts rose this week, while longer term forward contracts declined on the expected influence of the coronavirus on consumption and the wider economy. Day-ahead gas rose 6.6% to 26.00p/th, on forecasts that temperatures will drop from the seasonally high levels seen this week. Day-ahead power rose 9.8% to £36.50/MWh, following forecasts of low wind generation next week. April 20 gas was up 11.5% at 24.74p/th, and May 20 gas increased 10.5% to 24.53p/th. Seasonal gas contracts were mixed this week, down by 0.7% on average, despite summer 20 and winter 20 gas increasing 9.5% and 0.4% to 25.06p/th and 35.78p/th, respectively. Seasonal power contracts were also mixed this week, down on average by 0.2%, as summer 20 and winter 20 climbed 4.9% and 0.8% respectively, rising to £35.08/MWh and £43.57/MWh. Brent crude oil fell 30.6% to $35.52/bl as oil prices suffered the worst crash since the Gulf war in 1991. Prices opened 26% lower at $35.57/bl on 9 March, reacting to the outcome of the OPEC meeting where Russia refused to agree to deeper cuts to oil supply. EU ETS carbon prices also followed oil and lost 2.3% to average €23.18/t this week as less oil consumption has seen a drop in demand for ETS certificates. API 2 coal followed oil and dropped, slipping 3.5% to average $55.39/t with price changes in line with global market movements.
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 |