The Haven Market Report

Week 36 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 36

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 lost approximately 40p/MWh over the week, with Summer-18 losing 50p/MWh as the most bearish contract. The market was generally bullish on Tuesday and Wednesday, due to concerns over possible outages in the French nuclear fleet. However, contracts dropped towards the end of the week following their gas Natural Balancing Point (NBP) counterparts downwards.

Prompt/Day-ahead Power

The average day-ahead baseload price over the week was £45.67/MWh. Bolstered by low wind and solar output, a maximum value of £47.03/MWh was seen on Tuesday 29th. Sunday 3rd September saw the lowest day-ahead price for the week at £43.73/MWh, as wind output approached 9GW at its peak.

Imbalance Prices

Cashout prices over the last week outturned at an average of £40.76/MWh. A minimum price of -£25/MWh occurred during settlement period 12 (05:30 to 06:00) on Sunday 27th. During this period, Drax was able to provide flexibility and turn down its biomass units when requested to, in response to high wind generation. A maximum price of £114.90/MWh was seen during settlement period 37 (18:00 to 18:30) on Tuesday 29th, where coal generation at Ratcliffe-on-Soar was ramped up to help balance the system.

Renewables and other

Similarly to the last period, wind output was low throughout the week, at an average of 3.19GW. Solar output picked up from Wednesday to Friday with maximum generation reached on Friday 1st September (6.43GW).

*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.