All power and gas contracts fell this week as temperatures rose above 10°C. Day-ahead gas fell 27.8% to 30.60p/th, with record-high LNG send-out this week adding additional downward pressure to prices. Day-ahead power followed its gas counterpart and fell 25.4% to £37.00/MWh as high wind generation extended losses from a general decrease in power consumption. January 20 gas was down 9.7% at 39.34p/th, and February 20 gas decreased 8.0% to 39.94p/th. All seasonal gas contracts declined this week, down by 5.4% on average. Summer 20 and winter 20 gas dropped 8.5% and 5.1% respectively, subsiding to 35.08p/th and 45.92p/th. All seasonal power contracts declined this week, down on average by 3.4%. Summer 20 power decreased 5.4% to £42.45/MWh, while winter 20 fell 3.1% to £50.53/MWh. Brent crude oil fell 2.3% to $62.24/bl as OPEC allies agreed to deepen oil supply cuts in the first quarter of 2020 by 500,000 bl/d, though failed to commit to any change to oil supply for the rest of the year. The cut of 1.7mn barrels per day is equivalent to roughly 1.7% of the current global supply and are amongst some of the deepest cuts to supply this decade. EU ETS carbon slipped 0.8% to €24.54/t with lack of notable driver activity and API 2 coal lost 3.0% to $62.09/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 |