It was a largely bearish week for gas and power markets this week. Day-ahead gas fell 6.4% to 43.80p/th, as the system ended the week oversupplied amid high levels of LNG send-out, while Asian LNG prices also fell. Similarly, day-ahead power fell 5.1% to £63.58/MWh, following gas prices lower and forecasts of higher wind output early next week. April 21 gas was down 5.3% at 43.57p/th, and May 21 gas decreased 3.8% to 41.73p/th. All seasonal gas contracts declined this week, down by 2.4% on average. Both summer 21 and winter 21 gas dropped, by 3.9% and 1.8% respectively, to 42.35p/th and 52.66p/th. Most seasonal power contracts also declined this week, down on average by 0.6%. Summer 21 power slid 2.3% to £54.50/MWh, while winter 21 fell 0.7% to £64.32/MWh. Brent crude oil prices dropped 2.1% to average $67.39/bl this week. Prices were weighed upon by news select countries in Europe were opting to delay continued vaccination roll-outs. Consequently, with cases still rising in these countries, threats of further nationwide lockdowns have prompted demand concerns for the market. EU ETS carbon prices rose this week, rising 4.4% to average €42.55/t. EU ETS prices reached a new all-time high on 18 March, up to €43.63/t.
Baseload electricity | ||
|
| |
Forward curve comparison | Annual April Contract | |
Peak electricity | ||
|
| |
Forward curve comparison | Annual April contract | |
Seasonal power prices | ||
Seasonal baseload power contracts | Seasonal baseload power curve | |
|
| |
Commodity price movements | ||
Oil and Coal | Carbon | |
|
| |
Wholesale price snapshot |