Most power and gas contracts continue to follow bullish trends as observed prior to the Christmas break. Day-ahead power rose 6.6% to £68.25/MWh, finding support from tight supply margins, amid periods of low generation availability and high demand, with two Electricity Margin Notice (EMN) issued in the week on Wednesday and Friday. Day-ahead gas rose 8.3% to 61.75p/th, benefitting from the continued period of colder weather across the UK and much of North-West Europe, although this is set to subside next week. February 21 gas was up 7.2% at 60.82p/th, and March 21 gas increased 6.0% to 55.64p/th. Most seasonal gas contracts rose last week, up by 0.7% on average, with summer 21 and winter 21 gas increasing 2.6% and 2.3% respectively, lifting to 43.59p/th and 51.49p/th. Most seasonal power contracts also saw growth, rising by 1.7%, as summer 21 and winter 21 expanded 2.6% and 2.6% respectively, to £53.16/MWh and £59.00/MWh. Brent crude oil resumed gains last week, averaging $53.45/bl last week. Prices reached a near 11-month high on Friday at $54.74/bl. The Brent crude price lifted on supply cut pledges from Saudi Arabia, to combat market oversupply and demand concerns. EU ETS carbon climbed for the eighth consecutive week, rising 4.1% to average €34.02/t last week. Carbon prices were almost 17% higher than the same time last month. Prices on 8 January reached a new all-time high at €34.83/t. Prices continued to find support from ambitious climate targets made by the EU with a tighter carbon market expected as a result.
Baseload electricity | ||
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Forward curve comparison | Annual April Contract | |
Peak electricity | ||
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Forward curve comparison
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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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