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Energy Wholesale Market Review


Energy Wholesale Market Review Week Ending 10th October 2014

Diverging trends were witnessed for spot and long-term prices this week. Spot prices continued to rise, as short-term gas and power demand surged higher. Day-ahead power rose 8.8% week-on-week to a four-week high of £45.2/MWh. Longer-term contracts failed to track spot market rises, as the high gas storage picture and further decreases in commodities pulled contracts lower along the curve. Gas storage continued at record levels, reaching 99% full in the week, and combined with lower oil prices to pull summer 15 gas down 1.2% to 53.7p/th, a three-month low. Seasonal power prices followed lower, and were also influenced by continued declines in coal. Summer 15 power was down 0.1% to £48.7/MWh and is now 2.6% below its level a month ago. Long-term power contracts fell at lower rates than commodities, and as a result spreads gained in value. The annual April 15 clean dark spread rose 0.9% to £20.3/MWh. Global commodities continued to weigh on the GB market, as both Brent crude oil and coal prices fell to four-year lows. Brent crude oil was down 3.5% to $89.1/bl, its lowest level since November 2010.

Electricity Retail Supply - Wholesale Energy Market 10.10.2014

Energy Wholesale Market Review Week Ending 10th October 2014

Written By Graham Paul

Graham Paul

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