It was a predominately bearish week for gas and power contracts this week, slipping from record highs across most markets. As a result, day-ahead gas fell 3.5% to 87.30p/th, weighed by periods of system oversupply and generally wavering demand throughout the week . Similarly, day-ahead power dropped 4.9% to £92.25/MWh, falling from record highs the week prior, primarily driven by periods of increased wind output and taking direction from losses in gas markets on the near-curve. August 21 gas was down 2.2% at 86.83p/th, and September 21 gas decreased 2.4% to 87.96p/th. Most seasonal gas contracts declined this week, down by 1.9% on average, while both winter 21 and summer 22 gas dropped 2.9% and 3.6% respectively, subsiding to 92.25p/th and 55.79p/th. Elsewhere, all seasonal power contracts experienced losses like their gas counterparts, down on average by 3.1%, as winter 21 power decreased 3.8% to £94.77/MWh, while summer 22 fell 3.1% to £62.75/MWh. It was a largely bearish week across tracked international commodity markets also. Brent crude oil dipped 0.8% to average $74.87/bl this week. It was a second consecutive week of downward price movements across both UK and European carbon markets. The EU ETS lost 4.2% to €52.82/t, with the UK ETS falling 4.4% to £43.63/t.
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 |