The Haven Power Market Report is a weekly pricing report that analyses and explains energy market fluctuations over the past 7 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 generally rose by £0.13/MWh across the week. As in the previous week, the Winter-17 contract experienced the greatest gain in value, increasing by £0.45/MWh to hit above the £50/MWh mark for the first time since January 2017. Concerns over the supply of Norwegian natural gas after unplanned outages at the beginning of the week led to gains in the near curve. Prices retreated slightly on Tuesday, following the bearish behaviour of both Natural Balancing Point (NBP) gas and European coal. The downwards movement was helped by a more healthy gas supply outlook, after maintenance at some gas fields ended. Prices for the front 4 seasons on Friday saw marginal gains on Thursday’s close because of safety concerns surrounding the French nuclear fleet. This sparked fears that extensive maintenance programmes may have an impact upon availability over the winter and beyond.
The average day-ahead baseload price over the week was £48.39/MWh. Bolstered by relatively low wind and solar output, the maximum value was seen on Tuesday 22nd at £51.50/MWh. Wednesday 23rd witnessed the week’s lowest day-ahead price at £45.70/MWh, as higher levels of both wind and solar occurred.
Cashout prices over the last week outturned at an average of £42.57/MWh. Settlement period 22 on Sunday 27th saw a minimum price of £0/MWh, while a maximum value of £129.38/MWh was achieved during settlement period 41 (20:00-20:30) on Tuesday 22nd.
Renewables and other
Wind output was relatively low throughout the week, at an average of 3.16GW; down by over 3GW on the previous week. Wind output reached a maximum of 7.49GW early in the morning of Wednesday 23rd – coinciding with the week’s lowest day-ahead prices. There was a steady increase in solar output over the course of the week, with peak output at 7.49GW on Sunday 27th – thankfully, most of the UK enjoyed a sunny bank holiday weekend.
*For more information about Secure and Promote, please consult this Ofgem web page.
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.