Nearly all wholesale power and gas contracts fell week-on-week, with day-ahead peak power the exception, up 1.7% to £68.2/MWh. Day-ahead power fell 0.6% to end the week at £62.1/MWh, amid forecasts of higher wind generation early next week. The new month-ahead (February 19) power contract also dropped, ending the week at £63.9/MWh, whilst March 19 power decreased 1.6% to £61.2/MWh. All seasonal baseload power contracts fell week-on-week, down 3.0% on average. Summer and winter 19 were down 3.4% and 2.7% to £56.0/MWh and £62.1/MWh respectively, both four-week lows. All gas contracts decreased this week, with near-term contracts pressured by above seasonal normal weather at the start of the year. Week-on-week day-ahead gas fell 3.0% to 60.6p/th, 0.6% above the same time last month when it was 60.3p/th. Seasonal gas contracts were down 2.2% on average. Summer and winter 19 gas dropped 3.6% and 2.6% to 53.7p/th and 62.1p/th respectively. Brent crude oil prices slipped from an average of $55.2/bl the previous week to an average of $55.1/bl this week. Prices ended 2018 at $53.8/bl but rose above $57.0/bl by the end of the week as OPEC production cuts began on 1 January. API 2 coal prices dropped 2.6% to average $84.6/t. Coal prices ended the week at $82.6/t, the lowest since 19 April 2018. EU ETS carbon prices curtailed 1.5% to average €24.8/t, down from €25.2/t the previous week, despite there being no auctions scheduled until 7 January.
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 |