All power and gas contracts increased this week, with many hitting record highs. Both day-ahead gas and power reached their highest levels on our records, dating back to 2008. Day-ahead gas jumped 14.2% to 133.0p/th and day-ahead power leapt 121.2% to £240.0/MWh. Prices were driven higher by forecasts of tight margins next week, amid increased gas-for-power demand due to low wind generation. Month-ahead and season ahead contracts also posted significant gains with gas storage levels remaining low across Europe and continued high LNG prices. Month-ahead gas rose 12.0% to 132.7p/th and winter 21 gas climbed 11.1% to 134.2p/th. Meanwhile, October 21 power gained 10.5% to £126.0/MWh and the winter 21 contract lifted 9.7% to £127.8/MWh. Brent crude oil lifted 3.3% to average $72.4/bl, following signs of global demand recovery and extended outages in the Gulf of Mexico as a result of Hurricane Ida. EU ETS rose 6.8% to average €60.3/t and UK ETS gained 6.0% to average £52.0/t, supported by rising gas prices and increased investor buying towards the end of the week.
Baseload electricity | ||
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Forward Curve Comparison
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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
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Wholesale price snapshot
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