Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 14th November 2014
Power and gas prices dropped again this week as oil continued to fall, and gas supplies looked secure. Annual April 15 baseload power was down 0.8% to £49.8/MWh and annual April 15 gas slipped 0.6% to 55.0p/th. In contrast, day-ahead prices increased on the back of falling wind output and extensions to outages at Heysham and Hartlepool nuclear power stations. Day-ahead power climbed 1.8% to £48.0/MWh and its gas counterpart rose 1.9% to 53.5p/th. Month-ahead Brent crude oil fell 2.7% this week to a weekly average of $81.0/bl as the market remains oversupplied and no signs have emerged from OPEC nations of supply restrictions. Coal prices climbed 1.3% to average $71.4/t over the week. Some Australian mines are beginning to close temporarily as a result of low prices. Carbon prices continued their rise as work continues in the EU to progress a Market Stability Reserve.
Written By Graham PaulGraham Paul