Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 29th November 2013
Long-term power contracts rose this week following increases in gas, oil and carbon. Annual April 14 baseload power climbed 0.5% to £52.7/MWh while its gas counterpart increased 0.4% to 67.6p/th. Day-ahead power prices rose 2.7% to £56.0/MWh week-on-week. The contract reached a seven-month high of £58.3/MWh on Wednesday due to lower supplies and rising demand. The annual clean spark spread remained at last week’s level of £2.3/MWh as power and gas moved upwards. The annual clean dark spread rose 0.8% to £20.8/MWh as power rose faster than coal. Month-ahead Brent crude oil rose 2.2% to a weekly average of $110.6/bl on the back of concerns about supply security in Libya and positive US economic data. Oil rose to an almost seven-week high of $111.4/bl on Thursday on the back of supply concerns while winter demand rises.
Energy Wholesale Market Review Week Ending 29th November 2013.
Energy Wholesale Market Review Week Ending 22nd November 2013
Long-term power contracts fell this week following decreases in gas, as the system has coped well with colder temperatures. Annual April 14 baseload power dipped 0.5% to £52.5/MWh while its gas counterpart decreased 0.1% to 67.3p/th. In contrast, day-ahead power prices rose 5.6% to £56.4/MWh week-on-week. The contract reached a seven-month high of £56.4/MWh on Friday due to higher demand, reduced nuclear capacity and a fall in wind generation. The annual clean spark spread fell 7% to £2.3/MWh as power fell faster than gas. The annual clean dark spread dipped 1.3% to £20.6/MWh as power fell while coal remained stable. Month-ahead Brent crude oil prices rose 1.4% to a weekly average of $108.2/bl on supply concerns. The contract reached a monthly high of $109.8/bl on Friday on the back of falling US unemployment data and rising demand for oil.
Energy Wholesale Market Review Week Ending 22nd November 2013.
Energy Wholesale Market Review Week Ending 15th November 2013
Most prices rose this week following increases in gas contracts. Annual April 14 baseload power climbed 1.4% to £52.7/MWh while its gas counterpart increased 1.7% to 67.4p/th. Day-ahead power prices climbed 11% to £53.4/MWh week-on-week. The contract reached a seven-month high of £53.4/MWh on Friday due to higher gas prices and a fall in wind speeds at the end of the week. The annual clean spark spread remained at least week’s level of £2.5/MWh as gas and power increased. The annual clean dark spread increased 7% to £20.9/MWh as coal and carbon fell while power rose. Month-ahead Brent crude oil climbed 1.5% to a weekly average of $106.7/bl on supply disruption in Libya and expectations that the US would continue economic stimulus. Carbon prices fell 2.7% to a weekly average of €4.6/t ahead of mid-month auctions by the European Investment Bank.
Energy Wholesale Market Review Week Ending 15th November 2013.
Energy Wholesale Market Review Week Ending 8th November 2013
The contract rose 2.5% to a weekly average of €4.9/t. Most prices fell this week following a decrease in commodity prices. Annual April 14 baseload power dropped 0.2% to £52.0/MWh while its gas counterpart fell 0.4% to 66.3p/th. Day-ahead power prices dropped 8.9% to £48.1/MWh week-on-week due lower than expected demand and rising wind output forecasts. The annual clean spark spread rose 5% to £2.5/MWh on lower gas prices. The annual clean dark spread fell 0.4% to £19.6/MWh on the back of falling power contracts. Month-ahead Brent crude oil dropped 3.3% to a weekly average of $105.2/bl as a result of talks with Iran which could result in the lifting of oil sanctions. Carbon prices fell 4.2% to a weekly average of €4.7/t despite confirmation on Friday that carbon backloading would go ahead. This would decrease the overall level of permits in the EU ETS and increase prices over the long-term.
Energy Wholesale Market Review Week Ending 8th November 2013.
Energy Wholesale Market Review Week Ending 1st November 2013
Most long-term prices fell this week following decreases in oil and coal. Annual April 14 baseload power dropped 0.2% to £52.1/MWh while its gas counterpart fell 0.3% to 66.5p/th. Day-ahead power prices climbed 12% to £52.8/MWh week-on-week due to a rise in demand and lower nuclear capacity. Despite colder temperatures, day-ahead gas remained at 66.5p/th with a 10% rise in gas supplies. The annual clean spark spread fell 2% to £2.4/MWh on higher carbon prices. The annual clean dark spread rose 0.8% to £19.7/MWh on the back of falling coal contracts. Month-ahead Brent crude oil dropped 0.3% to a weekly average of $108.4/bl due to rising US oil inventories. On Thursday, carbon prices increased to €5.1/t after news that the EU will vote on carbon backloading in December. The contract rose 2.5% to a weekly average of €4.9/t.
Energy Wholesale Market Review Week Ending 1st November 2013.
Written By Graham Paul
