Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 27th March 2015
All gas contracts gained this week as a result of an undersupplied system. Long-term contracts were also pushed higher by gas storage capacity concerns at Rough and Hornsea. The day-ahead contract was 3.8% higher at 48.3p/th and the annual April 15 contract climbed 6.4% over the week to 49.7p/th. Day-ahead power slipped 5.3% over the week to £39.0/MWh, a five-week low, under the influence of a high wind generation forecast on Friday. All other contracts followed their gas counterparts higher. The annual April 15 contract increased 5.7% to £46.2/MWh. Coal prices began the week at a five-year low of $56.9/t on Friday as the worldwide market is oversupplied. Prices recovered slightly as the week progressed, with the weekly average unchanged at $57.8/bl. Brent crude oil was up by 5.0% this week to $56.8/bl as a result of a weaker US dollar and military conflict.
Written By Graham PaulGraham Paul