All power and gas contracts fell this week, largely weighed upon by lockdown announcements made across GB and Continental Europe which have acted to suppress demand. Day-ahead gas fell 11.6% to 38.00p/th, following a period of milder temperatures correlated with strong renewable generation throughout the week. Similarly, day-ahead power declined, falling 18.3% to £35.75/MWh, with high wind output weighing on prices coupled with lower demand. November 20 gas was down 5.3% at 42.05p/th, and December 20 gas decreased 8.9% to 42.66p/th. All seasonal gas contracts declined this week, down by 5.7% on average – following the wider movements in commodity markets. Summer 21 and winter 21 gas dropped 8.4% and 5.3% respectively, subsiding to 33.77p/th and 42.02p/th respectively. All seasonal power contracts declined this week, down on average by 4.4%, as summer 21 power decreased 6.1% to £42.40/MWh, while winter 21 fell 4.7% to £48.65/MWh. Brent crude oil fell notably this week, seeing a decrease of 6.6% to average $39.57/bl. The Brent crude price suffered this week as a result of recent lockdown announcements as news of a global escalation in covid-19 case numbers emerged, adding to fears within the market of a likely drop-off in demand. EU ETS carbon dropped by a further 3.5% to average €23.60/t for the week.
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
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