Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 16th December 2016
This week, average oil, coal, carbon and all gas and peak power contracts increased. Most baseload power contracts also moved higher, with the exception of the March 2017 contract, which dipped 0.6% to £45.2/MWh. Day-ahead baseload power jumped 11.1% to £52.5/MWh, with high demand forecast for Monday. Day-ahead gas went up 2.3% to 45.0p/th, amid higher demand levels. All seasonal baseload power contracts experienced gains, following gas and oil prices upwards. Summer 17 power lifted 1.8% to £41.8/MWh. Overall, seasonal gas contracts climbed by an average of 2.5%. Brent crude oil prices gained 1.6% this week to average $55.2/bl. On Monday, Brent crude oil reached its highest price since July 2015, at $56.6/bl. This was after non-OPEC members agreed to cut output by 558k bl/d at the meeting on Saturday 10 November. API 2 coal prices increased 5.9% to $65.6/t. On Friday, prices lifted to $66.50/t, a three-week high. EU ETS carbon prices rose by 11.3% to €4.8/t. On Wednesday, prices reached a two-week high of €5.0/t.
Energy Wholesale Market Review Week Ending 16th December 2016
Energy Wholesale Market Review Week Ending 9th December 2016
Day-ahead contracts were up this week, with higher gas and power demand levels amid colder temperatures. The day-ahead baseload power contract rose 41.4% to £69.9/MWh. Day-ahead gas went up 2.4% to 48.7p/th. Contracts moved forward this week. Other near-term contracts declined, the new month-ahead (January) baseload power contract fell 11.6% to £60.4/MWh. The January 17 gas contract lost 0.8% to 47.6p/th, upon news that withdrawals from Rough gas storage site will restart no later than 9 December, with the prospect of increased supplies for the coming winter. Brent crude oil prices gained 2.5% this week to average $50.0/bl. On Thursday, Brent crude oil reached $54.3/bl, its highest price since July 2015, on the back of an OPEC agreement to cut production. API 2 coal prices increased 1.2% this week to average $66.2/t.EU ETS carbon prices lost 14.6% to average €4.6/t. Prices remain significantly lower than their level this time last year, which was €8.5/t. On Friday, prices dropped to a new ten-week low of €4.4/t.
Energy Wholesale Market Review Week Ending 9th December 2016
Energy Wholesale Market Review Week Ending 2nd December 2016
Day-ahead contracts were up this week, with higher gas and power demand levels amid colder temperatures. The day-ahead baseload power contract rose 41.4% to £69.9/MWh. Day-ahead gas went up 2.4% to 48.7p/th. Contracts moved forward this week. Other near-term contracts declined, the new month-ahead (January) baseload power contract fell 11.6% to £60.4/MWh. The January 17 gas contract lost 0.8% to 47.6p/th, upon news that withdrawals from Rough gas storage site will restart no later than 9 December, with the prospect of increased supplies for the coming winter. Brent crude oil prices gained 2.5% this week to average $50.0/bl. On Thursday, Brent crude oil reached $54.3/bl, its highest price since July 2015, on the back of an OPEC agreement to cut production. API 2 coal prices increased 1.2% this week to average $66.2/t.EU ETS carbon prices lost 14.6% to average €4.6/t. Prices remain significantly lower than their level this time last year, which was €8.5/t. On Friday, prices dropped to a new ten-week low of €4.4/t.
Energy Wholesale Market Review Week Ending 2nd December 2016
Written By Graham Paul