Baseload power contracts up to and including winter 19 power were down week-on-week, whilst contracts beyond this rose. Power prices mirrored their gas counterparts as warmer temperatures are expected next week. The day-ahead contract was 3.2% lower at £38.0/MWh, a fresh two-week low. Q319 power decreased 3.1% week-on-week to £39.4/MWh. This is the first time a front-quarter baseload power contract has gone below £40.0/MWh since Q317 power in June 2017. On average, seasonal baseload power contracts were up 0.3% week-on-week, with all contracts mirroring their gas counterparts. All gas contracts up to and including winter 19 were lower week-on-week. Gas prices were pressured by forecasts of temperatures well above seasonal normal levels, and the expectation of comfortable gas supplies. Day-ahead gas was down 5.2% to end the week at 26.3p/th, the lowest since level September 2016. On average, seasonal contracts were 0.4% higher, supported by a recovery in Brent crude oil prices. Brent crude oil prices rose for a second consecutive week, up by 1.0% to average $62.4/bl. Prices were supported by growing tensions between Iran and the US, following news that Iran shot down a US military drone. API 2 coal prices slipped 1.7%, averaging $63.1/t. EU ETS carbon prices edged 0.3% higher to average €25.1/t. This was despite pressure following an increase in the number of auctions which took place compared to the previous week, boosting the supply of EUAs.
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 | |
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 |