Near-term power and gas contracts decreased this week, amid an oversupplied gas system and decreasing demand. Most seasonal contracts moved higher, despite a fall in global commodity prices. Day-ahead gas slipped 1.8% to 29.9p/th, with strong flows from Norway and healthy LNG send-out. Month-ahead gas lost 1.8% to 30.2p/th and July 19 gas fell 3.6% to 30.1p/th. Seasonal gas contracts increased 0.5% on average. However, the winter 19 contract dropped 0.6% to 54.3p/th. Day-ahead power fell 9.4% to £37.0/MWh, amid falling gas prices and decreasing demand. Month-ahead power slipped 0.9%% to £41.0/MWh and July 19 power lost 1.2%, also falling to £41.0/MWh. Nearly all seasonal power contracts moved higher, rising 0.8% on average. However, winter 19 power declined 0.1% to £57.8/MWh. Brent crude oil slipped 1.0% to average $71.0/bl this week. Data showing that US crude inventories rose to their highest levels since July 2017 drove prices downwards. API 2 coal prices lost 3.2% to average $68.0/t. Prices were pushed lower by healthy supply and high stock levels in Europe. EU ETS carbon prices dropped 2.8% to average €25.0/t. Weak results from Thursday’s auction and the depressive effect of lower oil prices and global stock markets on the energy market conspired to push prices lower.
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 |