It was a largely bullish week for gas and power contracts, with some exceptions in day-ahead power and longer-term seasonal power contracts. As such, day-ahead power fell 24.9% to £47.75/MWh, with strong wind generation throughout periods of the week, coupled with wavering demand. Most seasonal power contracts declined this week, down on average by 0.4%, as summer 21 and winter 21 expanded 2.9% and 0.9% respectively, rising to £56.10/MWh and £64.90/MWh. April 21 gas was up 11.4% at 48.55p/th, and May 21 gas increased 10.2% to 46.00p/th. All seasonal gas contracts boosted this week, up by 3.8% on average, while both summer 21 and winter 21 gas increased 8.9% and 3.5% respectively, lifting to 46.10p/th and 54.50p/th. Brent crude oil prices slipped this week, down 6.4% to average $63.09/bl. Some price support stemmed from supply disruption, with a tanker beached on the Suez Canal impeding transit of other tankers. However, this was ultimately offset by Coronavirus case numbers rising in Europe, which has prompted demand concerns throughout the continent. EU ETS carbon prices fell this week, declining 2.9% to average €41.31/t. Losses on the Brent crude market fed through to carbon prices this week, albeit prices are still relatively buoyant compared against recent months. Similarly, EUA’s slipped on Thursday, primarily driven by coronavirus infection cases rising in Europe, fuelling demand concerns.
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 |