All gas contracts fell this week, whilst power contracts experienced mixed movements. Prices were pressured by milder temperatures, lower demand and comfortable gas supplies this week. Day-ahead power dropped 1.4% to end the week at £53.8/MWh. The contract had fallen to an eight-month low of £50.8/MWh on 7 February as storm Erik was expected to increase peak wind output to 12GW the following day. March and April 19 power contracts rose 0.5% and 0.2% to £53.7/MWh and £52.8/MWh respectively. Seasonal power contracts lifted 0.1% on average from the previous week. However, summer 19 power slipped 0.4% to £51.6/MWh. All gas contracts fell as the gas system was well supplied following the arrival of several LNG tankers, comfortable flows from Norway and milder temperatures throughout the week. Day-ahead gas dropped 5.5% to end the week at 49.3p/th, a fresh 10-month low. March and April 19 gas also dropped, down 1.6% and 1.2% to 49.7p/th and 48.4p/th respectively. Seasonal gas contracts fell 1.6% on average, with summer 19 gas down 2.3% to end the week at 47.1p/th, a fresh seven-month low. Brent crude oil prices recovered from the previous week’s decline, up 1.7% to average $62.2/bl. Within-day oil prices rose to a two-month high of $63.6/bl on 4 February. API 2 coal ended the week at $77.65/t, a 10-month low, as the Chinese New Year holiday saw a hiatus in trading and lower demand in the region. EU ETS carbon was up 2.5% to average €23.2/t, having dropped to a two-month low of €21.3/t on 4 February.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
Peak electricity | ||
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Forward curve comparison | Annual April 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 |