Wholesale price movements were mixed this week. Day-ahead gas rose 1.2% to end the week at 62.50p/th, despite ongoing warm temperatures, driven higher towards the end of the week on forecasts of increased gas-for-power demand. August 21 gas lost 4.6% to 61.99p/th, while winter 21 gas boosted 2.8% to 70.29p/th. Day-ahead power went up 1.4% to £74.00/MWh, amid forecasts of low wind output early next week and with higher gas prices. Opposing gas, August 21 power inched up 0.1% to £72.55/MWh, while winter 22 power traded 2.2% lower at £67.00/MWh. In commodities, Brent crude oil gained 3.5% to average $70.91/bl, reaching a fresh two-year high of $71.64/bl on Friday. Prices found support this week from signals of a healthier demand outlook, with OPEC+ members agreeing to go ahead with plans to gradually increase output in July. Additionally, the EIA reported a fall in crude stocks of 5.08mn bbl in the week ending 28 May. EU ETS carbon dropped 2.4% to average €51.37/t, weighed on by warmer temperatures and the second UK ETS auction which outturned at £44.85/t on Wednesday.
Baseload electricity | ||
|
| |
Forward curve comparison
| Annual April Contract | |
Peak electricity | ||
|
| |
Forward curve comparison | Annual April contract | |
Seasonal power prices | ||
Seasonal baseload power contracts | Seasonal baseload power curve | |
|
| |
Commodity price movements | ||
Oil and Coal | Carbon | |
|
| |
Wholesale price snapshot |