All wholesale power and gas contracts fell week-on-week, with day-ahead gas dropping to a 20-month low as comfortable gas supplies and mild temperatures continue. Falling gas prices and strong wind generation drove day-ahead power prices to 18-month lows. All baseload power contracts fell week-on-week. Day-ahead power was down 1.0% to end the week at £47.5/MWh. The contract fell to £43.4/MWh on 14 March, a fresh 18-month low, amid forecasts of higher wind generation the following day. All seasonal power contracts continued to fall further, dropping 4.2% on average. Summer 19 power fell to an 11-month low of £45.5/MWh, while winter 19 power hit a nine-month low of £55.0/MWh. All gas contracts fell week-on-week, as above seasonal normal temperatures continued to drive down gas demand, leaving the gas system oversupplied for most of the week. Day-ahead gas dropped 8.8% to end the week at a 20-month low of 39.0p/th, 41.8% below the same time last year. Seasonal gas contracts decreased 6.6% on average, with summer 19 gas experiencing the biggest change falling 9.0% to end the week at 39.0p/th, a 13-month low. Brent crude oil prices rose this week, up 1.8% to average $66.9/bl. Within-day oil prices rose to a fresh four-month high above $68.0/bl on 14 March. EU ETS carbon prices slipped 1.1% to average €22.5/t. API 2 coal prices fell for a second consecutive week, down 3.7% to average $75.8/t, as milder temperatures in the northern hemisphere, combined with higher wind generation in Europe, dampened coal demand.
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 |