The Haven Market Report

Week 34 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 […]

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By Freddie Rand

Week 34

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.

Seasonal Contracts

Secure and Promote* (Season +1, +2, +3, +4) baseload contracts generally rose by £0.10/MWh across the week. However, the Winter-17 contract saw the largest gains, increasing by £0.95/MWh during the working week to above £49/MWh; levels not seen since February. Driving this rise was the French market and concerns about possible nuclear outages over the coming winter. The French nuclear safety authority (ASN) decided that further reviews and tests were required, due to potential issues with the steel manufacturing process used in some reactors. Last winter (Winter-16), prices became very volatile due to French nuclear outages, as the UK-France interconnector frequently operated on export to France in response to higher prices. This caused prices to rise in the UK.

Prompt/Day-ahead Power

The weekly average day-ahead price was £44.70. Prices for day-ahead baseload power reached a maximum value of £47/MWh on Tuesday 15th. The lowest price, on Saturday 19th, was due to a glut of wind, with over 8GW output sustained all day.

Imbalance Prices

Cashout prices over the last week achieved a mean average of £38.22/MWh, with a minimum price of £3.50/MWh realised for period 8 on Friday 18th August. The most expensive period occurred during half-hour 43 (21:00-21:30) on Tuesday 15th August, at a price of £130.00/MWh, where pumped hydro storage at Dinorwig was utilised.

Renewables and other

Wind output was fairly strong during the week, with an average of 6.2GW output (an increase of 2GW over the previous week) and a peak on Saturday afternoon of 10.5MW. Solar generation reached a high of 7.08GW on Tuesday 15th August. Higher prices on Sunday 20th were supported by low wind generation, where output fell to under 1.4GW.

*For more information about Secure and Promote, please consult this Ofgem web page.

Disclaimer

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.