The Haven Power Market Report is a weekly pricing report that analyses and explains energy market fluctuations over the past seven days.
For a more in-depth analysis, speak to Haven directly on 01473 707755, quoting reference HP250.
The front four seasonal contracts lost, on average, 0.25% value (around 11p/MWh) over the course of the week.
Day-ahead prices were relatively high last week, initially increasing from around £48/MWh, up to a peak of £59.13/MWh for delivery on Tuesday, 11th July. Prices then lost value towards the end of the week, finishing at £38.77/MWh. Prices generally tended to be lower when wind and solar generation in the UK was at its most productive.
Imbalance prices were relatively benign last week; with a minimum system price of £0.00/MWh and a peak of £169.09/MWh on Thursday, the mean price was £35.75/MWh. The maximum system price occurred during settlement period 35 on Thursday, when a short-term operating reserve (STOR) event was called.
Renewables and other
Solar output fluctuated during the week, reaching more than 7GW on Wednesday and declining towards the end of the working week as levels of wind generation picked up, peaking on Saturday, 15th July at almost 8GW.
A familiar trend was seen as Day-ahead prices fell away towards the end of the week, with large amounts of subsidised wind and solar output providing a significant portion of the energy mix. This meant more expensive fuelled generation failed to reach its marginal costs and was not utilised.
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