Energy Wholesale Market Review, 15 November 2019
Headlines
Most power and gas contracts decreased again this week, with the day-ahead power contract the exception. Day-ahead gas fell 3.5% to finish the week at 38.6p/th with high LNG send-out offsetting a drop in temperatures mid-week. Day-ahead power gained 19.4% to finish at £53.0/MWh as wind generation fluctuated heavily throughout the week. December 19 gas was down 5.0% at 40.6p/th, and January 20 gas decreased 3.4% to 43.5p/th. Most seasonal gas contracts declined this week down by 0.8% on average. Summer 20 and Winter 20 gas dropped 1.4% and 1.5% respectively, falling to 38.7p/th and 48.7p/th. All Seasonal power contracts dropped this week, down 1.5% on average. Summer 20 and Winter 20 power dropped 2.3% and 2.0% respectively, falling to £44.3/MWh and £51.7/MWh. Brent crude oil inched down 0.2% to average $62.2/bl this week, amid mixed forecasts of US oil inventories. Announced this week were plans to freeze spending on the US shale industry, which will likely see a reduction in US oil output growth. EU ETS carbon fell by 2.8% to €24./t as minimal price changes reflected a lack of notable activity in the market this week. API 2 coal prices slipped a further 1.4% to $63.21/t.
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Forward curve comparison
| Annual October Contract
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| Peak electricity | ||
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Forward curve comparison
| Annual October contract
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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 snaphot
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