EDW Technology Logo
Phone us on:
+44 (0)8448 802 489

Energy Wholesale Market Review


Energy Wholesale Market Review Week Ending 11th May 2018

Last week observed bullish movements across all tracked commodities, power and gas prices, with an array of contracts reaching new highs. On 11 May EU ETS carbon prices reached a near seven-year high of €14.6/t. Prices increased 4.6% to average €13.9/t across the week. Carbon prices were likely driven by a lack of fresh supplies with no auctions being held on Thursday and Friday due to European holidays. The US announced its withdrawal from the 2015 international Iranian nuclear agreement, resulting in the reintroduction of economic sanctions against Iran. This announcement was followed by oil prices reaching a three-and-a-half year high of $77.6/bl on 10 May. Day-ahead gas prices reached a two-month high at the end of the week, reaching 55.0p/th. Outages at gas fields and terminals pegged back early losses and supported near-term prices. The announcement of US sanctions permeated throughout the gas market. On 9 May, day-ahead baseload power prices rose £0.95/MWh above day-ahead peak power (£51.30/MWh). This was driven by robust solar output, and while this remains a relatively rare event, it is a trend we can expect to occur more frequently in future summer seasons. Overall, day-ahead baseload power gained 5.1% to £54.3/MWh. API 2 coal prices gained 1.6% last week, averaging $85.8/t. Coal prices throughout the week tracked the gains observed in oil prices.

Baseload Power

Electricity Retail - Wholesale Baseload Power 11.05.2018

NBP Gas

Electricity Retail - Wholesale Gas 11.05.2018

Energy Wholesale Market Review Week Ending 11th May 2018

Written By Graham Paul

Graham Paul

Address

EDW House
Radian Court
Milton Keynes
MK5 8PJ
UK
Tel: +44 (0)8448 802 489
Email: info@edwtech.com

Contact Us