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 all rose by an average of 76p/MWh over the week. The Winter-17 contract saw the largest gain, increasing by £1.20/MWh during the working week. Contracts further out gained incrementally less value. Gains in the front 4 seasons were a result of the bullish pricing behaviour of National Balancing Point (NBP) gas products. This followed unexpected outages at gas fields on the Norwegian side of the UK Continental Shelf (UKCS).
Prices for day-ahead baseload power reached a maximum value of £44.91/MWh during the week, driven by low wind output forecasts for the weekend.
Cashout prices over the last week achieved a mean average of £40.02/MWh, an increase of £5.97/MWh on the previous week. Once again there were no periods of negative pricing, although a minimum price of £0.00/MWh was realised for period 16 on Thursday 10th August. The most expensive period occurred during half-hour 35 (17:00-17:30) on Tuesday 8th August, at a price of £127.18/MWh.
Renewables and other
Wind output fluctuated during the week, with an average of 4.15GW output and a peak on Friday afternoon of 8.46MW. Solar generation also experienced fluctuations throughout the week, reaching a high of 6.61GW on Sunday 13th August.
*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.