This week represented a largely bullish week for gas and power prices, after a period of relative price suppression in previous weeks, driven by milder weather and a healthier gas supply picture. Looking at this week more specifically, day-ahead gas rose 30.3% to 227.00p/th, following periods of colder weather in the week, coupled with higher European gas prices and Russian supply concerns. Day-ahead power rose 30.3% to £215.00/MWh, following strong gains made in near-term gas prices, exacerbated by lower periods of wind generation in the week. February 22 gas was up 24.3% at 236.22p/th, and March 22 gas increased 29.8% to 232.42p/th. All seasonal gas contracts rose this week, up by 20.1% on average. Similar movements were seen across seasonal power contracts, rising on average by 10.8%. Carbon prices saw bullish movements this week, with the UK ETS rising 0.6% to average £75.98/t. Similarly, the EU ETS rose, up 7.1% to €85.23/t. Brent crude prices rebounded this week too, up 3.7% to average $80.55/bl.
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
|