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 Power directly on 01473 707755 quoting reference HP250.
Secure and Promote* (Season +1,+2,+3,+4) baseload contracts all rose by an average of 75p/MWh over the week, following price movements in the natural gas market. In contrast, Sterling (GBP) gained value against the dollar over the same period. This means the relative costs of some commodities such as oil will have decreased for companies importing into the UK.
Day-ahead baseload prices remained below £40/MWh for the majority of the week. The most expensive day was Tuesday 25th July, due to much lower forecasts from wind and solar, pushing the price above £43/MWh.
System prices have been benign over the last week, with a mean of £40.91/MWh. There were no negative prices and a minimum price of £2.22/MWh. The most expensive half hour was period 34 on Friday, 28th July, at £124.99/MWh, as some pumped storage and gas generation were brought on to support the system.
Renewables and other
A less sunny week in the UK, with cloud cover across the country, resulted in solar output failing to reach 6GW. Wind power was moderately productive with a mean output of 5.5GW over the week, although prices did respond to a drop-off in output on Tuesday.
*Ofgem provides some helpful information about Secure and Promote here.
Although all reasonable efforts have been made to verify the information in this report and provide the highest possible accuracy, no warranty, express or implied, is given by Haven Power Limited in respect of this information. Furthermore, the provision of this report does not constitute advice of any kind and should not be taken as the basis for any commercial or financial decisions. Any such decision should be made on the basis of your own records, knowledge and perception of power.
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