Most power and gas contracts fell mixed this week, though a few rises were seen in future winter contracts. Day-ahead gas fell 16.0% to a fresh 10-year low of 16.00p/th on forecasts of decreasing consumption levels, and pushed lower by expectations of very mild weather next week. Day-ahead power fell 36.2% to a new all-time low of £18.50/MWh with falls the result of similar reasoning to that of gas. May 20 gas was down 11.7% at 16.17p/th, and June 20 gas decreased 8.9% to 16.99p/th. All seasonal gas contracts declined this week, down by 1.5% on average, while both winter 20 and summer 21 gas dropped 0.9% and 1.6% respectively, subsiding to 32.65p/th and 29.23p/th. Most seasonal power contracts boosted this week, up on average by 0.2%, as winter 20 power expanded 0.2% to £39.12/MWh, while summer 21 remained at £35.00/MWh. Brent crude oil fell by 2.1% to $26.23/bl over reports that US and Russia were looking to agree a deal to stabilise oil prices. Brent oil prices then reported their biggest daily gain on record on 2 April following the announcement by Donald Trump that Saudi Arabia and Russia could announce a major cut to oil production. EU ETS carbon gained by 6.2% to €17.33/t, reflecting the rise in the oil market. API 2 coal reversed gains seen in recent weeks, falling 4.5% to average $55.06/t, as the effect of lowered demand begins to take effect on the coal market.
Baseload electricity | ||
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Forward curve comparison | Annual October Contract | |
Peak electricity | ||
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Forward curve comparison | Annual October 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 |