Energy Wholesale Market Review
Energy Wholesale Market Review Week Ending 29th November 2019
Most power and gas contracts fell this week as temperatures were above seasonal normal levels. Day-ahead gas was an exception and rose 1.0% to 42.40p/th amid lower LNG send-out, while day-ahead power rose 9.0% to £49.60/MWh on a drop in wind generation late in the week. December 19 gas was down 1.3% at 41.55p/th, and January 20 gas decreased 1.5% to 43.57p/th. Most seasonal gas contracts declined this week, down by 1.6% on average, while both summer 20 and winter 20 gas dropped 3.2% and 2.1% respectively, subsiding to 38.32p/th and 48.37p/th. Seasonal power contracts were mixed this week, but fell by 0.2% on average, as summer 20 power decreased 1.1% to £44.88/MWh, while winter 20 fell 0.7% to £52.13/MWh. Brent crude oil rose 1.9% to $63.69/bl as President Donald Trump flared tensions with China as he signed a bill backing Hong Kong protesters. China has threatened to retaliate, ensuring the US that it would take “firm countermeasures”. EU ETS carbon gained 3.8% to €24.73/t as the EU parliament declared a climate and environmental emergency this week, while API 2 coal climbed 0.5% to $63.99/t.
Energy Wholesale Market Review Week Ending 29th November 2019
Energy Wholesale Market Review Week Ending 22nd November 2019
Most power and gas contracts rose this week, with a few seasonal contracts and day-ahead power being exceptions. Day ahead gas rose 8.8% to 42.0p/th as lower LNG send-out saw the gas market undersupplied towards the end of the week. Day ahead power dropped 14.2% to average £45.5/MWh as wind generation surged midweek. December 19 gas was up 3.6% at 42.1p/th, and January 20 gas increased 1.7% to 44.3p/th. All seasonal contracts boosted last week, up by 1.7% on average, while both summer 20 and sinter 20 gas increased 2.4% and 1.3% respectively, lifting to 39.6p/th and 49.4p/th. Most seasonal power contracts increased last week up by 1.5%. Summer 20 and winter 20 power contracts climbed 2.5% and 1.5% respectively, rising to £45.4/MWh and £52.5/MWh. Brent crude oil inched up 0.6% to average $62.2/bl with prices changing on varying on mixed reports of US crude inventory levels. EU ETS carbon fell by 2.5% to €23.8/t as price changes and activity was minimal again this week as the EU parliament will vote on whether to declare a climate emergency. API 2 coal prices reversed last week’s gains, rising 0.8% to $63.7/t.
Energy Wholesale Market Review Week Ending 22nd November 2019
Energy Wholesale Market Review Week Ending 15th November 2019
Most power and gas contracts decreased again this week, with the day-ahead power contract the exception. Day-ahead gas fell 3.5% to finish the week at 38.6p/th with high LNG send-out offsetting a drop in temperatures mid-week. Day-ahead power gained 19.4% to finish at £53.0/MWh as wind generation fluctuated heavily throughout the week. December 19 gas was down 5.0% at 40.6p/th, and January 20 gas decreased 3.4% to 43.5p/th. Most seasonal gas contracts declined this week down by 0.8% on average. Summer 20 and Winter 20 gas dropped 1.4% and 1.5% respectively, falling to 38.7p/th and 48.7p/th. All Seasonal power contracts dropped this week, down 1.5% on average. Summer 20 and Winter 20 power dropped 2.3% and 2.0% respectively, falling to £44.3/MWh and £51.7/MWh. Brent crude oil inched down 0.2% to average $62.2/bl this week, amid mixed forecasts of US oil inventories. Announced this week were plans to freeze spending on the US shale industry, which will likely see a reduction in US oil output growth. EU ETS carbon fell by 2.8% to €24./t as minimal price changes reflected a lack of notable activity in the market this week. API 2 coal prices slipped a further 1.4% to $63.21/t.
Energy Wholesale Market Review Week Ending 15th November 2019
Energy Wholesale Market Review Week Ending 8th November 2019
Most power and gas contracts decreased this week, with day-ahead contracts the exceptions. Day-ahead gas rose 41.6% to finish the week at 40.0p/th, following a forecast drop in temperatures, while day-ahead power gained 13.1% to £44.4/MWh as wind generation dropped mid-week. December 19 gas was up 0.4% at 42.8p/th, and January 20 gas decreased 0.5% to 45.0p/th. All seasonal gas contracts declined this week, down 0.5% on average. Summer 20 gas dropped 0.9% to 39.3p/th and winter 20 gas declined 0.3% to 49.5p/th. All seasonal power contracts declined further this week, going down 0.7% on average. Summer 20 power fell 0.6% to end the week at £45.4/MWh, while the winter 20 contract slipped 0.5% to £52.8/MWh. Brent crude oil gained 2.2% to average $62.3/bl this week, following the shutdown of the Keystone pipeline after an oil spill. Delegates from OPEC this week have said that the organisation is more likely to encourage members to comply more fully with existing agreements to pledge to cut supplies by 1.2mn bpd. EU ETS carbon reversed last week’s gains, losing 1.4% to €25.2/t, amid weak auction results and waning German economic data. API 2 dropped 1.7% to average $64.1/t.
Energy Wholesale Market Review Week Ending 8th November 2019
Written By Graham Paul
