Most power and gas contracts rose this week despite no change to lockdown measures announced in the UK. Day-ahead gas fell 3.4% to 15.45p/th on expectation of high temperatures and lowered demand over the Easter bank holiday. Day-ahead power opposed its day-ahead gas counterpart and rose 53.2% to £28.35/MWh. Recovering from an all-time low last week, the power contract rose on expectations of slightly lower wind generation next week. May 20 gas was up 3.3% at 16.70p/th, and June 20 gas increased 3.2% to 17.53p/th. All seasonal gas contracts boosted this week, up by 3.5% on average, while both winter 20 and summer 21 gas increased 3.3% and 5.0% to 33.73p/th and 30.70p/th, respectively. All seasonal power contracts climbed this week, up on average by 5.3%, as winter 20 and summer 21 5.9% and 8.0% to £41.43/MWh and £37.80/MWh, respectively. Brent crude oil gained 26.4% to average $33.16/bl this week, continuing momentum seen from the previous week, as the market looks tentatively to the next OPEC meeting, where a decision on possible cuts to oil supply could make or break the near-term future of oil supply. EU ETS carbon prices saw further recovery this week, mirroring gains seen in the oil market as the price of carbon rose 17.5% to average €20.37/t. API 2 coal followed oil and increased this week, rising 1.1% to average $55.49/t, as the effect of lowered demand begins to take effect on the coal market.
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 |