Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 11th September 2020
Most power and gas contracts fell this week, with day-ahead power contracts being the exception to this trend. Day-ahead gas fell 7.4% to 27.60p/th, from the eight-month high seen last week, with increased renewables and nuclear output seeing lower gas consumption for power generation. Day-ahead power rose 12.2% to £48.25/MWh, driven by forecasts of lower wind output for the start of next week. October 20 gas saw a notable drop and was down 10.1% to 27.89p/th. Most seasonal gas contracts followed oil prices lower this week, down by 3.0% on average, with the winter 20 contact dropping 5.4% to 36.93p/th. Seasonal power contracts slipped 0.9% on average, as prices were weighed on lower gas and EU ETS carbon prices. Winter 20 power decreased 1.4% to £50.40/MWh. International commodities saw collective downward movements this week. Brent crude oil prices declined by over 9% to average $40.81/bl, representing lows not experienced since mid-June. Similarly, the EU ETS carbon price dropped amid increased auction volumes, averaging €27.27/t.
Energy Wholesale Market Review Week Ending 11th September 2020
Written By Graham Paul
