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Energy Wholesale Market Review

Energy Wholesale Market Review Week Ending 10th November 2017

Bullish price movements continued across power, gas and commodity markets this week. The day-ahead baseload power contract leapt 5.1% to £52.0/MWh. This was due to nuclear outages across Great Britain and France, as well as rising coal and gas prices. However, these gains were capped by increased wind generation throughout the week. All seasonal power contracts experienced gains this week. The day-ahead gas contract gained 7.7% to 52.8p/th, with colder temperatures boosting demand for heating. Additionally, nuclear outages increased gas demand for power generation, and continued high exports to Europe boosted near-term prices. All peak power contracts also increased this week, with the day-ahead peak power contract gaining 8.1% to £56.8/MWh. Brent crude oil prices strengthened 2.6% to average $62.4/bl, up from $60.8/bl the previous week. On 7 November prices reached a 28-month high of $64.1/bl, owing to rising tensions between OPEC members Saudi Arabia and Iran concerning the recent conflicts in Yemen. API 2 coal prices experienced an uptick of 0.1% to average $86.6/t. On 10 November API 2 coal reached $88.9/t, a fresh four-year high, with news of commencing strike action across South African coal mines. EU ETS carbon prices climbed 2.5% to average €7.6/t, with prices boosted by burgeoning European coal demand. On 6 November prices increased to €7.9/t, a fresh 22-month high.

Electricity Retail - Energy Wholesale Market Review 10.11.2017

Energy Wholesale Market Review Week Ending 10th November 2017.

Written By Graham Paul

Graham Paul


EDW House
Radian Court
Milton Keynes
Tel: +44 (0)8448 802 489

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