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 products all rose by an average of 30p/MWh over the week. In the early part of the week prices on the curve opened strongly; following their natural gas counterparts upwards on news of decreased flows from the continent and a period of high demand from Germany. After flows began to strengthen mid-week, prices fell away. However, towards the end of the week, prices strengthened once again fuelled by a fall in the value of the pound; as lowered growth and inflation forecasts were announced by the Bank of England.
Day-ahead baseload prices remained below £40/MWh for the majority of the week, aside from Tuesday 1st Aug, where wind generation fell to an average output of 4.1GW, supporting higher prices of just over £41.50/MWh.
System prices have been stagnant over the last week, with a mean of £34.06/MWh. There were no negative price periods and a minimum price of £0.00/MWh, where several hydro storage plants made use of low prices to pump and replenish their stored energy in upper reservoirs. Interestingly, the most expensive half hour was period 45 on Friday 4th at £130.00/MWh, when some pumped storage at Dinorwig was bought on to support the system.
Renewables and other
A moderately windy week in the UK with an average of 5.7GW wind and 1.8GW solar. A peak output of almost 10GW wind output was achieved on Thursday 3rdAugust.
*For more information about Secure and Promote please consult the Ofgem documentation at the following web page: https://www.ofgem.gov.uk/electricity/wholesale-market/liquidity
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 market data, supplemented with appropriate independent expert advice when required.
This is a promoted article.