Headlines
Most power and gas contracts saw gains this week, opposing the trend seen in the previous few weeks. Day-ahead gas rose 8.1% to 20.00p/th ahead of scheduled maintenance to fields on the UKCS at the start of next week. Day-ahead power rose 10.1% to £41/MWh on lower wind generation forecasts at the start of next week. September 20 gas was up 3.1% at 21.24p/th, and October 20 gas increased 5.3% to 24.38p/th. All seasonal gas contracts rose this week, up by 0.8% on average, while winter 20 and summer 21 gas increased 3.3% and 2.7% respectively, lifting to 35.33p/th and 30.82p/th. All seasonal power contracts increased this week, up on average by 1.6%, as winter 20 and summer 21 climbed 2.1% and 2.3% respectively, rising to £47.10/MWh and £41.02/MWh. Brent crude oil prices remained unchanged averaging just over $45.04/bl this week, amid the easing of lockdown restrictions with a slow COVID-19 recovery. Prices have plateaued signalling the end to a near five-month high with some major crude oil producers seeking to limit supply.
| Baseload electricity | | |
- Day-ahead power rose 10.1% to £41.00/MWh following lower wind generation forecasts at the beginning of next week.
- September 20 power climbed 1.1% to £36.75/MWh and October 20 power increased 2.7% to £39.04/MWh.
| | - Q420 power moved 2.4% higher to £45.18/MWh.
- The annual October 20 contract rose 2.2% to £44.06/MWh, 13.2% lower than the same time last year (£50.77/MWh)
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Forward curve comparison 
| | Annual October Contract
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| Peak electricity | | |
- Day-ahead peak power was up 15.0% to £46.00/MWh, following its baseload counterpart higher.
- September 20 peak power gained 2.5% to £42.5/MWh, and October 20 peak power increased 4.8% to £46.85/MWh.
| | - The annual October 20 peak power contract lost 2.6% to £50.56/MWh.
- This is 11.6% lower than the same time last year (57.2/MWh).
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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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- All seasonal power contracts rose this week, up on average by 1.6%.
- Winter 20 and summer 21 climbed 2.1% and 2.3% respectively, rising to £47.10/MWh and £41.02/MWh.
| | - All seasonal peak power contracts increased this week, up 1.6% on average.
- Winter 20 and summer 21 peak power increased 2.8% and 2.4% respectively, rising to £55.48/MWh and £45.63/MWh.
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| Commodity price movements | | |
Oil and Coal 
| | Carbon 
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- Brent crude oil prices remained unchanged averaging just over $45.04/bl this week, amid the easing of lockdown restrictions with a slow COVID-19 recovery.
- Prices have plateaued signalling the end to a near five-month high with some major crude oil producers seeking to limit supply.
- Prices remain afflicted with fears of market oversupply and subsequently, some OPEC+ producers have held off increasing demand.
- Some OPEC+ members will likely need to cut output to combat recent issues of oversupply.
- Similarly, as issues surrounding oversupply remain consistent – OPEC+ members continue to delay resupply with India suggesting a return to higher crude demand in the short term being unlikely.
| | - API 2 coal prices dropped 4.0% this week to average $55.21/t
Reports showed that coal imports into the EU dropped for the sixteenth consecutive week. - The EU ETS carbon price followed the previous week’s decline, slipping 0.8% to average €25.95/t, falling as a result of weaker demand at EUA auctions.
- The markets remained cautious over the number of future EUA’s in circulation at auctions.
- The carbon price was weighed upon by concerns on wider economy recover due to COVID-19 – whilst this week’s outage to the EU ETS registry is expected to be short lived.
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Wholesale price snapshot 
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