It was a largely bearish week for most tracked gas and power contracts this week, with some exceptions in the longer dated seasonal contracts. In support of these bearish movements, day-ahead power fell 0.3% to £73.00/MWh, afflicted by warmer temperatures as the week matured combined with wavering demand and lowering gas prices feeding through on the near curve. June 21 gas was down 4.4% at 60.57p/th, and July 21 gas decreased 2.3% to 60.38p/th. All seasonal gas contracts declined this week, down by 2.5% on average. Winter 21 and summer 22 gas dropped 1.0% and 2.3% to 68.36p/th and 46.90p/th, respectively. Most seasonal power contracts decreased this week, down on average by 1.0%, as winter 21 power slipped 0.2% to £81.00/MWh, while summer 22 fell 1.9% to £58.35/MWh. Brent crude oil edged 1.0% higher to average $68.52/bl. The most notable driving force for bullish Brent crude prices this week was the on-going negotiations around a nuclear deal between the US and Iran. News circulated that such discussions were not operating as smoothly as first thought which fed into some uncertainty about the deal going ahead, lending support to prices. EU ETS carbon prices remained high, but lost 1.1% to average €52.65/t. Similar to its European counterpart, UK ETS fell this week, down 1% from the week prior to reach £50.17/t.
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 |