It was a largely bullish week again for gas and power contracts this week. Day-ahead gas rose 3.5% to 52.80p/th, supported by the colder weather experienced across the UK in recent days. Day-ahead power increased 16.7% to £66.5/MWh, following gains made on the gas near curve, whilst also supported by low wind output throughout the week. May 21 gas was up 0.6% at 47.63p/th, and June 21 gas increased 0.7% to 47.70p/th. Seasonal gas contracts largely saw gains this week, up 0.7% on average, with winter 21 gas rising 1.4% to 55.83p/th, while summer 22 gas dropped 0.5% to 41.28p/th. Most seasonal power contracts experienced similar movements, rising on average by 0.9%, as winter 21 and summer 22 expanded 1.5% and 1.0% respectively, rising to £66.50/MWh and £50.60/MWh. Brent crude oil prices fell this week, down 1.4% to average $63.10/bl. Bearishness stemmed from demand concerns and easing of OPEC+ supply cuts. Prices at the weeks start were largely impacted by the continued uncertainty surrounding Covid-19 travel restrictions, impacting future oil demand growth. EU ETS carbon prices rose this week, rising 4.0% to average €43.32/t. Prices also broke a fresh all-time high again on 6 April at €44.19/t, driven by high EUA demand with auctions recommencing after the Easter break.
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 |