Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 31st January 2014
Long-term power prices fell this week following decreases in their gas equivalents. Annual April 14 baseload power dropped 2.8% to £50.4/MWh as its gas counterpart fell 3.7% to 63.8p/th. Day-ahead baseload power decreased 4.9% to £44.9/MWh with increased wind output and falls in coal and gas prices. Lower demand and high LNG supply contributed to day-ahead gas falling to a seven-month low of 61.2p/th. The annual April 14 clean spark spread rose 1% to £2.3/MWh as gas fell faster than power. The annual April 14 clean dark spread fell 8.3% to £17.6/MWh. Month-ahead Brent crude oil rose 0.4% to a weekly average of $107.4/bl, as increased demand in the US outweighed bearish concerns over emerging economies and weakening economic data from China to drive up prices on average.
Energy Wholesale Market Review Week Ending 31st January 2014.
Energy Wholesale Market Review Week Ending 24th January 2014
Long-term power prices fell this week following decreases in their gas equivalents. Annual April 14 baseload power dropped 1% to £51.8/MWh as its gas counterpart fell 1.2% to 66.2p/th. Day-ahead baseload power decreased 6.9% to £47.2/MWh as wind output increased and 1GW of nuclear capacity came back online over the week. As temperatures fluctuated across the week, day-ahead gas remained unchanged at 66.0p/th. The annual April 14 clean spark spread rose 7% to £2.3/MWh as gas prices fell faster than power. The annual April 14 clean dark spread rose 2% to £19.4/MWh following decreases in coal. Month-ahead Brent crude oil rose 0.5% to a weekly average of $107.1/bl. Brent crude prices reached a three-week high of $107.9/bl on Thursday as increased global demand forecasts combined with security of supply concerns in South Sudan.
Energy Wholesale Market Review Week Ending 24th January 2014.
Energy Wholesale Market Review Week Ending 17th January 2017
Long-term power prices rose this week following increases in their gas equivalents. Annual April 14 baseload power climbed 0.9% to £52.2/MWh while its gas counterpart rose 0.9% to 66.4p/th. In contrast, day-ahead baseload power rose 2.8% to £50.7/MWh as a result of falling wind output and extensions to a planned nuclear power station outage. Higher than average winter temperatures helped lower demand, pulling down day-ahead gas by 1.3% to 66.0p/th. The annual April 14 clean spark spread fell 7% to £2.1/MWh as increasing gas and carbon prices exceeded rises in power. The annual April 14 clean dark spread fell 1% to £19.0/MWh as coal prices rose faster than power. Month-ahead Brent crude oil fell 0.8% to a weekly average of $107.5/bl. The contract fell to a two-month low of $106.1/bl on Friday due to returning supply from Libya and progress on an international deal with Iran.
Energy Wholesale Market Review Week Ending 17th January 2014.
Energy Wholesale Market Review Week Ending 10th January 2014
Long-term power prices fell this week following decreases in gas. Annual April 14 baseload power dropped 1.6% to £51.8/MWh while its gas counterpart dipped 1.3% to 66.4p/th. In contrast, day-ahead baseload power rose 9.6% to £49.3/MWh as a result of falling wind forecast output towards the end of the week, and a rise in gas prices. Rising demand pushed up day-ahead gas by 2.5% to 66.85p/th as temperatures fell compared to the previous week. The annual clean spark spread fell 6% to £2.3/MWh as power fell faster than gas. The annual clean dark spread fell 8.3% to £19.2/MWh due to decreases in power while the price of coal rose. Month-ahead Brent crude oil fell 3.1% to a weekly average of $107.5/bl. The contract fell to an eight-week low of $107.1/bl on Friday as a result of speculations that positive US economic data could prompt the Federal Reserve to further reduce its economic stimulus.
Energy Wholesale Market Review Week Ending 10th January 2014.
Energy Wholesale Market Review Week Ending 3rd January 2014
Lower gas prices pulled down power contracts this week. Annual April 14 baseload power dropped 1.7% to £52.6/MWh while its gas counterpart decreased 1.9% to 67.2p/th. Day-ahead power prices also fell, pulled down by lower gas, an increase in coal generation and rising wind forecast output towards the end of the week. Day-ahead baseload power dropped 6.3% to an average of £45.0/MWh. The annual clean spark spread rose 5% to £2.4/MWh as gas fell faster than power. The annual clean dark spread fell 2.9% to £20.9/MWh due to decreases in power while coal remained stable. Month-ahead Brent crude oil dropped 0.5% to a weekly average of $111.0/bl on expectations that oil production in Libya may resume. Predictions of increasing US oil stockpiles supported the fall. Low trading activity following the holiday period pulled carbon prices down by 0.3% to a weekly average of €4.9/t.
Energy Wholesale Market Review Week Ending 3rd January 2014.
Written By Graham Paul
