This week, the majority of wholesale power and gas prices fell, whilst commodities experienced mixed movements. Prompt wholesale power and gas contracts moved lower, driven by high levels of wind generation and an oversupplied gas system. All baseload power contracts fell this week. The day-ahead contract plummeted 9.7% to £60.5/MWh. High levels of wind generation pressured day-ahead prices throughout the week with output from transmission connected windfarms exceeding 12GW for the first time on Wednesday. All seasonal baseload power contracts decreased week-on-week, down 0.9% on average. Summer 19 power decreased 0.8% to £56.2/MWh and the winter 19 contract slipped 1.0% to £61.9/MWh. All near-term gas contracts decreased this week, with just the winter 20 and summer 21 contracts moving in the opposite direction. Day-ahead gas fell 7.1% to end the week at 62.6p/th. Near-term contracts continued to be pushed lower by high LNG send-out and the continuation of LNG deliveries into the UK. Most seasonal gas contracts also decreased, down 0.4% on average. Summer 19 gas dropped 1.0% to 55.7p/th and winter 19 gas was 1.2% lower at 63.9p/th. The weekly average Brent crude oil price fell for an eighth consecutive week, losing 6.3% to average $60.3/bl, pressured by oversupply concerns. API 2 coal prices rose 0.9% to average $84.5/t, supported by an increase in German coal-fired generation. EU ETS carbon prices were little changed, increasing 0.2% to average €19.9/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 |