In a bullish week for gas and power markets, all tracked contracts rose this week. Day-ahead gas increased 2.7% to 42.50p/th, supported by periods of colder weather across GB and Continental Europe, set to continue into next week. Day-ahead power rose 115.3% to £110/MWh, following a sharp reduction in wind generation, coupled with higher demand forecast for next week, amid colder temperatures. Expectations of lower generation availability early next week further supported day-ahead power prices. January 21 gas was up 1.6% at 42.35p/th, and February 21 gas increased 4.6% to 42.92p/th. All seasonal gas contracts saw gains of 0.6% on average, while both summer 21 and winter 21 gas increased 0.5% and 0.3% respectively, lifting to 33.35p/th and 42.13p/th. All seasonal power contracts boosted this week, up on average by 2.0%, as summer 21 and winter 21 expanded 2.0% and 1.4% respectively, rising to £44.46/MWh and £50.80/MWh. Brent crude oil climbed for the fourth consecutive week, lifting 1.5% higher from the week prior to average $47.97/bl. Prices reached $49.23/bl on Friday 4 December, its highest price since the beginning of March. Oil prices continued to rally on COVID-19 vaccination developments, creating a more positive demand outlook, coupled with improving global equity markets. EU ETS carbon climbed for the fourth consecutive week, rising 5.7% to average €29.22/t this week. Prices reached a three-month high of €29.89/t on 4 December.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
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 | Carbon | |
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Wholesale price snapshot
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