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Energy Wholesale Market Review


Energy Wholesale Market Review Week Ending 16th February 2018

The majority of power and gas contracts increased this week, with seasonal contracts recovering from the multi-month lows experienced the prior week. Commodity prices experienced mixed movements. Day-ahead baseload power rose 2.5% to £49.2/MWh, with lower wind generation forecast for Monday (19 February). The day-ahead contract was relatively stable this week with just a £0.90/MWh difference between the highest and lowest price. Day-ahead gas slipped 0.4% to 50.2p/th. Prices decreased throughout the week amid rising temperatures and lower gas demand for both power generation and residential heating. Summer 18 power gained 1.5% to £43.1/MWh and the winter 18 contract lifted 1.2% to £48.8/MWh, following their gas counterparts. Summer 18 gas lifted 1.9% to 42.2p/th and the winter 18 contract gained 0.8% to 49.8p/th. Brent crude oil prices lost 4.1% to average $63.6/bl throughout the week. On Wednesday, Brent crude fell to a nine-week low of $62.4/bl. Continued concerns over rising US oil output and Baker Hughes data showing the US rig count was at a three-year high pushed prices lower. API 2 coal prices continued to fall this week, dropping 1.4% to average $78.9/t. However, prices did experience a week-on-week gain, reaching $80.5/t on Friday, up from $77.0/t last Friday. EU ETS carbon prices gained 7.4% to average €9.6/t this week.

Electricity Retail - Energy Wholesale Market Review

Energy Wholesale Market Review Week Ending 16th February 2018

Written By Graham Paul

Graham Paul

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