It was a collectively bullish week across most tracked gas and power contracts this week. In support of this, day-ahead gas rose 6.9% to 66.25p/th, following cooler temperatures at the weeks start and higher gas-for-power demand amid weaker wind generation. Day-ahead power rose 18.4% to £82/MWh, finding support from prolonged periods of weaker wind generation in the week, lowering demand and record high carbon prices. June 21 gas was up 10.5% at 68.25p/th, and July 21 gas increased 9.8% to 65.86p/th. Seasonal gas contacts experienced gains, rising by 5.7% on average, with winter 21 and summer 22 gas increasing 8.7% and 7.7% respectively, lifting to 73.77p/th and 51.59p/th. Similar movements were seen in seasonal power contracts, which averaged 6.9% higher, as winter 21 and summer 22 expanded 8.1% and 7.8% respectively, rising to £84.46/MWh and £62.50/MWh. Brent crude oil prices slipped this week, down 0.7% to average $68.18/bl. The weeks start saw supply disruption from a cyber-attack on the US Colonial Pipeline causing a temporary shutdown, supporting oil prices. However, the rising number of COVID-19 cases across India and select parts of Asia ultimately overshadowed the aforementioned bullish price movements. EU ETS carbon prices rose this week, rising 8.9% to average €53.53/t. Prices once again broke all-time record highs, reaching €55.69/t on 14 May.
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 |