The majority of baseload power contracts fell week-on-week, with only day-ahead power rising. The contract gained 10.3% week-on-week to £39.3/MWh, following its gas counterpart higher amid cooler temperatures and low wind generation. All seasonal power contracts moved lower, falling 1.0% on average. Winter 19 power declined 1.4% to £55.8/MWh at the end of the week, having dropped to a two-month on 5 June. Gas contracts experienced mixed movements this week, as cooler weather supported near-term contracts up to and including August 19, whilst contracts further along the curved followed oil prices lower. Day-ahead gas rose 3.8% to end the week at 28.6p/th, having dropped to 26.9p/th on 4 June as the system was oversupplied. Month-ahead gas was up 3.3% to 28.4p/th, despite warmer temperatures forecast in July. Seasonal contracts fell 1.0% on average, with winter 19 gas 1.9% lower week-on-week at 52.0p/th. Brent crude oil fell 9.7% to average $61.6/bl, following news of an unexpected rise in US crude stockpiles at the end of May, pushing prices below $60/bl on 5 June, the lowest since January. Oil prices were also pressured by news that US crude production hit a record 12.4mn bpd at the end of May. API 2 coal prices fell again, down 2.9% to average $64.2/t. Prices dropped to $63.3/t, a fresh two-year low, as ARA coal stocks remained well supplied at 6.6mt as of 3 June. EU ETS carbon prices dropped 4.5% to average €24.2/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 |