Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 11th May 2012
Power and gas prices were down across the board this week as oil fell to levels not seen since the beginning of the year and both gas and power systems remained well-supplied. Gas and power prices have not yet returned to the lows seen five months ago, but they are 8% lower than the recent peaks seen in March. Seasonal spark spreads were down slightly as power prices fell, but seasonal dark spreads have now climbed above last year’s levels and are at a £18.9/MWh premium to spark spreads. UK gas storage is 58% full as injections continued to keep pace with withdrawals. International energy prices dropped significantly throughout the week as negative economic news and political instability caused market concern. Month-ahead Brent crude oil fell 4.6% to a five-month low of $111.5/bl. Coal prices were pulled even lower by continuing oversupply. Coal hit a new18-month low of $105.3/t on 11 May.
Click here to download the EDW Wholesale Market Review for week ending 11th May 2012.
