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Energy Wholesale Market Review

Energy Wholesale Market Review Week Ending 20th April 2018

This week was dominated by bullish movements in most wholesale contracts, as gas, power and commodity prices reached fresh multi-year highs. Day-ahead gas was the only gas contract to fall, dropping 2.3% week-on-week to 51.8p/th. The fall was driven by lower demand caused by higher than average temperatures across the week, as well as high levels of renewables output. May 18 gas reached its highest price since February 2017, hitting 52.2p/th. Nearly all peak power contracts experienced growth this week. Day-ahead peak power fell 2.5% to £52.2/MWh from the previous week. Seasonal peak power contracts experienced an average growth of 0.4% from the previous week, with only summer 20 seeing losses (down 0.3%). Day-ahead baseload power slipped 2.0% to £49.8/MWh. Prices were weighed on by increased wind and solar generation, which, in combination with lower demand, led to a UK record of 55 hours without coal-fired power plant generation. Brent crude oil gained 2.2% to average $72.0/bl, up from $70.5bl. Bullish behaviour led to oil hitting a fresh three-and-a-half year high on 19 April at $74.75/t. Bullish momentum has continued to be driven by the OPEC supply cap. EU ETS carbon prices reached a fresh seven-year high on 19 April, peaking at €14.2/t but averaged €13.6/t across the week. Prices fell to €13.1/t on 20 April, down 5.9% week-on-week, following profit-taking after the fresh high.

Electricity Retail - Energy Wholesale Market Review 20.04.2018

Energy Wholesale Market Review Week Ending 20th April 2018

Written By Graham Paul

Graham Paul


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

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