Nearly all power and gas contracts declined this week, as seasonal contracts were weighed upon by lower Brent crude oil and EU ETS carbon prices. Day-ahead power lost 6.4% to £44.00/MWh, amid high levels of wind generation for much of the week. The new month-ahead contract (November 20) dropped 4.2% to £49.95/MWh and December 20 power slipped 0.9% to £50.50/MWh. Summer 21 power moved 1.1% lower to £42.69/MWh, while winter 21 power lost 1.8% to £49.58/MWh. Day-ahead gas lifted 2.2% to 32.00p/th, with colder temperatures outweighing the impact of an oversupplied system throughout the week. November 20 gas edged 0.8% lower to 35.76p/th and December 20 gas dropped 3.8% to 38.46p/th. Summer 21 gas fell 1.6% to 32.65p/th and the winter 21 contract declined 2.1% to 41.95p/th. Brent crude oil fell 1.7% to average $41.19/bl, with the continuation of demand concerns amid a second wave of COVID-19. On Friday, prices dropped below $40.0/bl, reacting to news that President Trump had tested positive for COVID-19 and a significant increase in Libyan oil production. EU ETS lost 1.0% to average €26.63/t, pressured by increased expectations of a ‘hard Brexit’ and drops in other global markets.
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 |