The majority of power and gas contracts rose this week, in what has largely been a relatively bullish week for prices. However, some contracts reversed wider trends. Day-ahead gas represented one of the few contracts to decline this week, albeit marginally, slipping 0.1% to 42.50p/th, supported by periods of reduced temperature but ultimately offset by phases of notable system oversupply and wavering demand in parallel. Conversely, day-ahead power rose 10.5% to £49.9/MWh, supported by reduced wind generation at the start of the week coupled with increased demand. January 21 gas was up 2.5% at 45.79p/th, and February 21 gas increased 2.8% to 47.08p/th. Most seasonal gas contracts boosted this week, up by 1.1% on average, while both summer 21 and winter 21 gas increased 2.5% and 2.3% respectively, lifting to 36.80p/th and 45.38p/th. Most seasonal power contracts rose this week, up on average by 0.7%, as summer 21 and winter 21 expanded 1.7% and 1.1% respectively, rising to £47.30/MWh and £53.20/MWh. Brent crude oil climbed for the sixth consecutive week, lifting 3.3% higher to average $50.90/bl. Oil prices continued to rally on COVID-19 vaccination developments, creating a more positive demand outlook with more rapid economic recoveries predicted than previously. Oil prices also found support from reduced US crude inventories. EU ETS carbon climbed for the sixth consecutive week, rising 2.8% to average €30.86/t this week. Carbon prices are over 14% higher than the same time last month and over 20% higher than last year.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
Peak electricity | ||
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Forward curve comparison
| Annual April contract
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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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