Power contracts generally experienced upward price movements this week, with exceptions of the month-ahead contract and Q121 contract, both falling by 1.2% and 1.8% respectively. Power contracts have been predominately supported by low wind outturn throughout the week which has led to tight supply margins. The Day-ahead power contract benefitted from the aforementioned system conditions, rising 25.0% to £44.7/MWh. Gas contracts contrasted this, likely as a result of a short spell of increased temperature above seasonal normal levels, reducing demand. As such, day-ahead gas fell 1.4% to 37.45p/th. December 20 gas was down 5.1% at 40.50p/th, and January 21 gas decreased 0.7% to 41.79p/th. Most seasonal gas contracts rose last week, up by 5.2% on average, with summer 21 gas increasing 0.7% to 34.00p/th, while winter 21 gas dropped 0.2% to 41.93p/th. All seasonal power contracts grew, up on average by 1.5%, as summer 21 and winter 21 expanded 1.8% and 0.5% respectively, rising to £43.15/MWh and £48.91/MWh. Brent crude oil remained relatively static last week, averaging $39.76/bl. In recent weeks, the Brent crude price had remained relatively stable sitting above the $40.00/bl mark, but has slipped as a result of market uncertainty with global coronavirus cases escalating daily. EU ETS prices rose last week. Prices increased by 3.5% to average €24.43/t, lifting above recent price trends in the last fortnight where prices have remained close to €23.00/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
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