This week, gas contracts experienced mixed movements, while all baseload power contracts rose. Day-ahead gas was up 9.3% at 30.5p/th, supported by maintenance reducing flows from UKCS. This was despite the gas system ending the week oversupplied by 24mcm/d, due to the rerouting of Norwegian gas to the UK. Seasonal gas contract movements were mixed, moving just 0.1% higher on average week-on-week. While winter 19, summer 21 and winter 21 were all slightly higher, both summer 20 and winter 20 gas moved lower. Day-ahead power prices were supported by weaker wind generation during the week, coupled with the rise in day-ahead gas. This saw day-ahead power up 4.3% to end the week at £42.8/MWh. Seasonal baseload power contracts reversed the previous week’s losses, up 1.0% on average. Winter 19 power gained 0.5% to £56.7/MWh, an increase of 5.1% from the same time last month (£54.0/MWh). Brent crude oil was up just 0.2% to average $63.9/bl. Oil prices rose above $65.0/bl on 31 July following news of another weekly decline in US crude stocks, dropping 8.5mn barrels the previous week. API 2 coal prices reversed the previous week’s gains, dropping 2.9% to average $68.1/t, pressured by weaker demand. EU ETS carbon prices averaged €28.7/t, down 1.7% from the previous week amid lower demand for allowances due to a drop in conventional-fired power generation.
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 snaphot |