All gas and power contracts recorded losses this week. Day-ahead power was down 10.7% to end the week at £73.25/MWh, amid stronger wind output, but remains unseasonably high with strong demand and high gas prices lending support. All seasonal power contracts declined last week, down on average by 3.6%. Winter 21 power decreased 3.9% to £81.20/MWh, while summer 22 fell 4.8% to £59.50/MWh. Day-ahead gas fell 0.4% to 66.00p/th, with prices remaining high amid unusually cold weather and high carbon prices. Month-ahead gas lost 7.1% to 63.39p/th. Seasonal gas contracts mirrored their power counterparts, declining by 3.9% on average. Both winter 21 and summer 22 gas dropped 6.4% and 7.0% respectively, subsiding to 69.07p/th and 48.00p/th. Brent crude oil fell 0.5% to average $67.82/bl. Economic reopening in Europe and the US was countered by demand concerns over surging COVID-19 cases in Asia and expectations that sanctions on Iranian oil exports will be lifted. EU ETS carbon lost 0.6% to average €53.23/t, after some profit-taking this week. UK ETS carbon ended its first week of trading to average £47.87/t, outturning £2.12/t higher on average against the equivalent EU ETS price.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
Peak electricity | ||
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Forward curve comparison | Annual April 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 |