Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 15th May 2015
Annual October 15 power and gas contracts were unchanged from last week at £44.8/MWh and 47.1p/th respectively. Trends along the gas forward curve were mixed, with prices in the forward quarter being supported by an increase in gas demand for power generation. The month-ahead contract gained 1.0% to 42.7p/th. Most power contracts followed their gas counterparts but the biggest gain was seen in the day-ahead contract, which rose 3.8% to £41.5/MWh as wind generation dropped. The annual October 15 clean dark spread gained 1.6% this week to £9.1/MWh as coal prices fell but the annual power price was unchanged. The annual October 15 clean spark spread was remained at £3.7/MWh this week. EU ETS carbon reached a three-month high of €7.7/t on Tuesday after the EU Council approved the draft Market Stability Reserve bill.
Written By Graham PaulGraham Paul