All power and gas contracts fell this week with the domestic market reflecting the current bearish global markets. Day-ahead gas fell 9.7% to 24.55p/th to follow oil and LNG prices (which hit a 10-year low this week) lower, as an influx in LNG send-out ensured the market was well supplied. Day-ahead power fell 11.0% to £31.50/MWh, with consistently strong wind generation this week pressuring prices. February 20 gas was down 12.1% at 24.03p/th, and March 20 gas decreased 9.9% to 23.66p/th. All seasonal gas contracts declined this week, down by 7.3% on average, while summer 20 and winter 20 gas dropped 5.9% and 6.6% respectively, subsiding to 24.43p/th and 35.04p/th. All seasonal power contracts declined this week, down on average by 4.5%, as summer 20 power decreased 3.1% to £34.80/MWh, while winter 20 fell 3.3% to £42.70/MWh. Brent crude oil fell by 7.3% to $58.91/bl as investors fear the future of global oil consumption on lack of movement due to the coronavirus. EU ETS carbon slipped by 3.8% to €24.03/t amid the exit of the UK from the European Union, whilst API 2 coal was relatively unchanged at $60.50/t.
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 |