It has been a largely bullish week for gas and power price contracts, with exceptions coming from longer dated contracts. Day-ahead gas rose 1.7% to 61.00p/th, following forecasts of near-zero temperatures forecast early next week and periods of increased demand expected. Day-ahead power rose 52.9% to £100.00/MWh, following a notable drop off in wind generation at the end of the week and greater demand forecast at the start of next week. February 21 gas was up 0.2% at 59.92p/th, and March 21 gas increased 6.4% to 56.64p/th. Most seasonal gas contracts rose this week, up by 3.7% on average, while summer 21 and winter 21 gas increased 7.1% and 5.4% respectively, lifting to 44.20p/th and 52.23p/th. Most seasonal power contracts gained this week, up on average by 1.2%, as summer 21 and winter 21 rose 4.1% and 2.7%, to £53.00/MWh and £59.00/MWh, respectively. Brent crude oil slipped marginally to $55.48/bl this week. Prices were afflicted this week by news of COVID-19 case rising globally, despite the roll-out of several different vaccinations. As case numbers have rapidly spiralled again in recent weeks, it has led to many economies entering tougher phases of lockdown restrictions once again to combat the spread of the virus. EU ETS carbon felt this week, slipping 2.8% to average €32.96/t. Like other commodity markets, news of a resurgence in global case numbers of COVID-19 has acted bearishly on prices.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
Peak electricity | ||
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Forward curve comparison
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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 | Carbon | |
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Wholesale price snapshot |