Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 16th September 2016
Day-ahead baseload power rocketed 339.4% to £157.7/MWh on Friday 16 September, with tightening supply margins. This was the highest price since March 2006, following a likely drop in peak wind power generation to around 1GW on Monday 19 September. Planned outages with the French and Dutch interconnectors are expected to lower continental European imports by 2GW. The price spike caused the day-ahead clean spark spread to surge 1,104.0% to £130.0/MWh this week, while the day-ahead clean dark spread soared from -£0.1/MWh to £121.1/MWh. Week-on-week winter 16 power increased by 3.2% to £45.8/MWh, following its gas counterpart higher. Day-ahead gas went up 15.1% to 28.7p/th, amid higher demand. Gas for winter 16 rose 2.3% to 39.0p/th. Week-on-week, Brent crude oil prices declined 7.0% to $45.9/bl, and on average lost 3.2% $46.8/bl. Prices slipped after the IEA forecast that the market will be oversupplied at least through the first six months of 2017. Week-on-week API 2 coal prices climbed 2.7% to $57.8/t. EU ETS carbon gained 2.7% to €4.2/t.
Written By Graham PaulGraham Paul