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Energy Wholesale Market Review


Energy Wholesale Market Review Week Ending 21st September 2018

All gas and power contracts recovered the previous week’s decline, rising as wind generation is forecast to fall and demand expected to rise early last week. Despite EU ETS carbon experiencing its first weekly average decline in 13 weeks, power prices continued to be supported by commodity markets with gains in Brent crude oil and API 2 coal prices. Day-ahead gas prices rose 6.3% to 76.0p/th despite the gas system being oversupplied for much of last week. Day-ahead power followed its gas counterpart higher, up 5.2% to end the week at £70.0/MWh. All seasonal gas and power contracts increased week-on-week. Seasonal gas contracts were up 4.0% on average with both winter 18 and summer 19 gas gaining 4.2% to 79.8p/th and 63.7p/th respectively. Seasonal power contracts increased 2.1% on average, with winter 18 power up 3.2% to £73.7/MWh. The weekly average Brent crude oil price rose for the fifth consecutive week, gaining 1.2% to average $79.1/bl. The market has been looking to the OPEC and non-OPEC coalition meeting in Algiers on 22-23 September, which aims to discuss how the group will mitigate the losses from Iran. API 2 coal rose 0.9% to average $96.7/t. Prices reached a fresh five-year high at the end of the week, hitting $98.4/t. Demand has grown in Europe following the recent record highs in wholesale gas prices across the continent. Average EU ETS carbon prices dropped 8.7% to €21.2/t, down from €23.2/t the previous week.

Electricity Retail - Energy Wholesales Market Review 21.09.2018

Energy Wholesale Market Review Week Ending 21st September 2018

Written By Graham Paul

Graham Paul

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