Wholesale Energy Prices Update 01/02/2019
|Energy Type Prompt year wholesale electricity (£/MWh)||This week’s price 55.6||Last week’s price 57.5||Change -3.3%|
|Prompt year wholesale gas (Pence/therm)||54.1||56.1||-3.6%|
|2020 annual wholesale electricity (£/MWh)||53.1||54.3||-2.2%|
|2020 annual wholesale gas (Pence/therm)||53.5||53.7||-0.4%|
|2021 summer wholesale electricity (£/MWh)||47.6||47.5||0.2%|
|2021 summer wholesale gas (Pence/therm)||47.7||47.4||0.6%|
Wind power generation was on the low side all week, but, overall, electricity supply was good and carbon prices fell across Europe. Contracts saw opposite movements last week. Short term pricing fell sharply, but longer contracts held their risk value. The promise of good weather has taken a lot of risk out of the wholesale energy system, but Brexit could still have a big impact on 2019 pricing. Longer term pricing was influenced by oil price increases Risk averse clients may still want to look at contracting to remove any Brexit risk but those willing to take some risk may well find that prices continue to descend if weather risk continues to diminish.
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