Most power and gas contracts fell this week. Day-ahead gas dropped 3.4% to 18.5p/th following general oversupply on the NTS as both the Langeled pipeline and Barrow terminal saw higher flows this week. Day-ahead power was an exception and rose 8.1% to £37.25/MWh on forecasts of lower wind generation towards the start of next week. September 20 gas was down 4.7% at 20.60p/th, and October 20 gas decreased 2.9% to 23.15p/th. All seasonal gas contracts declined last week, down by 0.7% on average. Winter 20 and summer 21 gas dropped 0.2% and 0.8% respectively, subsiding to 34.2p/th and 30p/th. All seasonal baseload power contracts declined this week, down on average by 2.0%, as winter 20 power decreased 2.0% to £46.15/MWh, while summer 21 fell 2.2% to £40.10/MWh. Brent crude oil prices rose by 1.7% to average $45.07/bl this week, continuing last week’s trend. Prices were supported mid-week by another weekly decline in US crude inventory levels. However, the decision by OPEC+ producers to ease production cuts at the start of August provided downward pressure to prices. The EU ETS price reversed the previous week’s gains, falling 1.3% to average €26.17/t, as a result of weaker demand at EUA auctions.
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 |