Electric market has opened up a fair amount from this time last week with the Gas market coming down marginally. Both are up from this time last month and considerably higher than this time last year.
Gas: Shorter dated contracts weakened on Friday, as a combination of potential warmer temperatures, forecasts for further LNG deliveries and Gazprom booking additional transit capacity via Mallnow pushed prices lower. Longer dated contracts strengthened, following strong trading within the carbon markets. This morning, near curve contracts have opened lower following strong LNG send out and expectations of warmer temperatures. Longer dated contracts have strengthened, as trading within the carbon markets strengthens.
Power: Near curve UK power contracts moved lower on Friday, as forecasts for strong wind generation, expectations for warmer temperatures and losses within the NBP gas market weakened prices. Longer dated contracts firmed, as trading within the carbon markets remained strong. UK power contracts have mirrored the movements of their corresponding NBP gas contracts this morning, which remains a key market driver.
Today, the Electric wholesale prices have opened up 24.53% HIGHER than this time last week with Gas DECREASING by 3.02%
How the market has opened each day:
Date Electric (£/MWh) Gas (p/therm)
29/11/2021 204.85 235.10
30/11/2021 203.10 241.70
01/12/2021 245.60 245.10
02/12/2021 258.10 239.10
03/12/2021 203.50 228.10
06/12/2021 255.10 228.00
7 day averages
Electric (£ per MWh) 228.38
Gas (pence per therm) 236.18
The below shows how the market compares to the previous week, month and year.
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