Power contracts experienced mixed price movements throughout this week. Day-ahead power decreased 5.7% to £45.80/MWh, owing to strong renewables output forecast for the start of next week. This was despite high prices observed mid-week amid news of tight supply margins and numerous generator outages. The month-ahead contract (November 20) gained 0.1% to £49.90/MWh. In contrast, summer 21 power moved 1.3% lower to £43.45/MWh, with winter 21 also decreasing 1.6% to £49.90/MWh. Similar to power contract movements, gas contracts varied widely throughout the week, with forward contracts experiencing support from the forecast cold snap across GB and Continental Europe. Day-ahead gas lifted 5.2% to 40.50p/th. November 20 gas rose 5.8% to 40.80p/th, with December 20 gas also rising 4.9% to 43.00p/th. Summer 21 gas lifted 0.4% to 34.90p/th but the winter 21 contract slipped 1.1% to 43.10p/th. Brent crude oil marginally rose this week, seeing an increase of 1.0% to average $42.28/bl. Despite the price growth this week, a general sentiment of uncertainty continues to circulate throughout the market as the threat of COVID-19 globally begins to intensify again. EU ETS prices fell this week, reversing the marginal increase in prices the previous week. Prices dropped by 5.4% to average €25.27/t for the week, following similar drivers to the oil market, as rising COVID-19 cases could dampen demand for EUAs this winter.
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
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