Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 30th August 2013
Power prices generally rose this week following increases in long-term gas contracts. Annual October 13 power increased to £51.8/MWh while annual October gas climbed 0.4% to 67.7p/th. Short-term power prices saw both monthly highs and lows as climbing gas prices and lower nuclear output pushed day-ahead power up earlier in the week, while increasing wind generation pulled it down towards the end. The annual clean spark spread increased 7% to £1.3/MWh as long-term power prices rose, but it remains 73% lower than last year. The annual clean dark spread rose 2.6% to £22.8MWh. Month-ahead Brent crude increased significantly, rising to a six-month high of $116.2/bl mid-week. Coal markets fell 0.7% to a weekly average of $83.0/t as China reduced its domestic prices to gain market share.
Energy Wholesale Market Review Week Ending 30 August 2013.
Energy Wholesale Market Review Week Ending 23rd August 2013
Power prices saw little movement this week as lower gas prices were limited by rises in oil. Annual October 13 power remained at £51.4/MWh and annual October 13 gas fell 0.1% to 67.3p/th. Short-term power prices rose as a result of falling wind output and lower nuclear generation, but these gains were limited by drops in gas prices due to lower regional demand. The annual clean spark spread decreased 2% to £1.2/MWh as power prices fell; it is now 76% lower than last year. The annual clean dark spread dipped 0.9% to £22.3/MWh and is at a £21.1/MWh premium to the annual clean spark spread. Month-ahead Brent crude remained high at a weekly average of $109.6/bl following predictions of lower supply next year. Coal markets remained well supplied with a dip of 0.1% to a weekly average of $83.6/t, and EU ETS carbon allowances rose 0.1% to a weekly average of €4.4/t.
Energy Wholesale Market Review Week Ending 23rd August 2013.
Energy Wholesale Market Review Week Ending 16th August 2013
Most prices fell this week, despite increases in coal and oil, as a result of lower gas demand. Annual October 13 power was down 0.6% to £51.4/MWh and annual October 13 gas fell 0.9% to 67.4p/th. Gas pulled power down but the falls were limited by rising coal prices. Short-term power prices rose as a result of lower wind output but gas prices dipped despite concerns about supplies. The annual clean spark spread increased 21% to £1.3/MWh as gas prices fell; the contract is now 76% lower than last year. The annual clean dark spread dipped 1.5% to £22.5/MWh and is at a £21.2/MWh premium to the annual clean spark spread. Month-ahead Brent crude climbed to a weekly average of $109.34/bl over concerns about tensions in the Middle East would affect oil supplies. Coal prices rose 1.2% to a weekly average of $83.7/t following a miners strike in Colombia, and EU ETS carbon allowances dropped 2.1% to a weekly average of €4.4/t.
Energy Wholesale Market Review Week Ending 16th August 2013.
Energy Wholesale Market Review Week Ending 9th August 2013
The UK power and gas markets were down this week as a result of lower demand and falling commodity prices. Annual October 13 power was down 0.7% to £51.7/MWh and annual October 13 gas fell 0.9% to 68.0p/th.
Short-term power prices fell as a result of falling demand and rising wind output but gas prices remained high due to North Sea gas maintenance. The annual clean spark spread remained stable at £1.0/MWh and is now 78% lower than last year. The annual clean dark spread rose 0.7% to £22.5/MWh and is at a £21.8/MWh premium to the annual clean spark spread. Month-ahead Brent crude dropped to a weekly low of $106.9/bl as oil production in the North Sea reached a seven-month high. Coal prices dropped to a 40-month low of £82.4/t and increased demand for carbon pushed EU ETS allowances up 3.7% to a weekly average of €4.5/t.
Energy Wholesale Market Review Week Ending 9th August 2013.
Energy Wholesale Market Review Week Ending 2nd August 2013
Annual power and gas prices saw an increase for the first time in two weeks as oil prices climbed to a three-month high. Annual October 13 power was up 0.4% to £52.1/MWh and annual October 13 gas rose 0.3% to 68.6p/th. Short-term gas prices were pushed up by the beginning of maintenance at Norwegian gas fields but power was pulled down by higher nuclear and wind output. The annual clean spark spread is now 79% lower than last year after rising 1% to £1.0/MWh as a result of the rise in power prices. The annual clean dark spread rose 5% to £22.5/MWh. The contract is now at a £21.5/MWh premium to the annual clean spark spread. Month-ahead Brent crude increased to a three-month high of $109.7/bl as the US released better than expected economic data. Coal prices dropped to a three-year low of £83.7/t and a reduced allowance supply has pushed carbon prices up 1.6% to a weekly average of €4.3/t.
Energy Wholesale Market Review Week Ending 2nd August 2013.
Written By Graham Paul
