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Energy Wholesale Market Review

Energy Wholesale Market Review Week Ending 4th August 2017

Commodity prices hit multi-month highs this week, with Brent crude oil, API 2 coal and EU ETS carbon all experiencing gains. The majority of gas and power contracts also moved higher. Day-ahead baseload power gained 4.6% to £42.0/MWh, with a significant drop in wind generation forecast for Monday. The new month-ahead contract (September) increased by 2.9% to £45.4/MWh. Summer 18 power rose 1.5% to a five-month high of £40.6/MWh. Week-on-week, the day-ahead gas contract rose 1.9% to 39.3p/th, as the ongoing outage at the Kollsnes gas processing plant continued to restrict imports from Norway. On Monday, day-ahead gas reached a two-month high of 40.0p/th. The month-ahead (September) gas contract lifted 0.6% to 39.8p/th. Brent crude oil prices climbed 4.4% to average $52.2/bl, despite being little changed on prices from last Friday. On Tuesday, Brent crude oil reached a two-month high of $52.7/bl, amid expectations that US crude inventories decreased for a fifth consecutive week. However, on Friday Brent crude oil prices reversed gains amid concerns over US crude production, which hit 9.4mn bl/d, its highest level since August 2015. API 2 coal rose 2.0% to average $74.6/t. On Monday, prices hit an eight-month high of $75.8/t. Continued strong demand from China and supply disruptions in Australia pushed prices higher. EU ETS carbon prices increased 3.3% this week to average €5.3/t.

Electricity Retail - Energy Wholesale Market Review 04.08.2017


Energy Wholesale Market Review Week Ending 4th August 2017

Written By Graham Paul

Graham Paul


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

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