It was a largely bullish week for gas and power markets this week, with exceptions on the day-ahead baseload power contract. Day-ahead gas rose 10.7% to 61.75p/th, supported by a consistently colder week, ultimately offsetting periods of system oversupply. Day-ahead power fell 7.5% to £62.00/MWh, weighed upon by strong and consistent wind generation throughout the week. May 21 gas was up 14.1% at 59.65p/th, and June 21 gas increased 7.9% to 57.34p/th. All seasonal gas contracts boosted this week, up by 4.9% on average, as winter 21 and summer 22 gas increased 9.4% and 6.4% respectively, lifting to 64.89p/th and 45.93p/th. All seasonal power contracts climbed this week, up on average by 4.8%. Winter 21 and summer 22 power rose 6.0% and 4.6% to £75.25/MWh and £55.35/MWh, respectively. Brent crude oil prices rose lifted 0.6% to average $66.59/bl. Meetings held with OPEC+ members to decide how to mitigate demand impacts from rising cases in India did provide a positive reaction to the market, easing demand concerns and subsequently supporting prices. Similarly, a more positive demand outlook ultimately offset the concerns in India and Asia this week. EU ETS carbon prices rose 4.5% to average €47.48/t. Prices once again broke all-time record highs, reaching a peak of €48.12/t on 28 April.
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 |