The bullish and unprecedented highs observed across wholesale markets continued again this week, with record highs seen across gas and power day-ahead markets. Day-ahead gas rose 15.7% to 160.50p/th, reaching an all-time high on 15 September at 187.50p/th, driven by higher gas-for-power demand and a backdrop of tighter gas markets with continuing maintenance works across the Norwegian Continentel Shelf, and low European gas storage volumes. Day-ahead power shared strong bullish trends seen in gas contracts, rising 93.0% to £330/MWh, also reaching an all-time high of £540/MWh on 13 September, driven by the continuation of low wind output across the week and tight system margins. October 21 gas was up 14.6% at 161.55p/th, and November 21 gas increased 14.4% to 166.50p/th. All seasonal gas contracts boosted this week, up by 5.1% on average, while both winter 21 and summer 22 gas increased 14.4% and 4.0% respectively, lifting to 164.58p/th and 82.76p/th. All seasonal power contracts boosted this week, up on average by 6.2%, as winter 21 and summer 22 climbed 19.6% and 4.7%, rising to £165.00/MWh and £90.00/MWh respectively.
Baseload electricity | ||
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Forward Curve Comparison
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Peak electricity | ||
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Forward curve comparison
| Annual October 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
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Wholesale price snapshot
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