The Haven Market Report

Week 37 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 37

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 gained on average £1.08/MWh over the course of the week, with Summer and Winter 2018 contracts increasing by £1.30/MWh. Contracts firmed towards the end of the week, pushed up by bullish coal and gas contracts on the National Balancing Point (NBP) natural gas market. Another contributing factor to the rise in prices was the on-going risk of French nuclear outages over the coming winter season.

Prompt/Day-ahead Power

The average day-ahead baseload price over the week was up over £2 on the previous 7 days, at £47.92/MWh. The maximum price occurred on Saturday 9th at £49.97/MWh, on the back of relatively low wind and solar output. The previous day, 8th September, saw the lowest day-ahead price at £45.91/MWh, as wind output peaked at over 8GW.

Imbalance Prices

Cashout prices over the last week outturned at an average of £45.69/MWh. A minimum price of £10.74/MWh was seen during settlement period 8 (03:30 to 04:00) on 5th September; when a unit at Drax turned down generation. Settlement period 40 (19:30 to 20:00) on Monday 4th September saw a maximum price of £141.62/MWh, when expensive hydro and combined cycle gas turbine (CCGT) units were used to balance the system.

Renewables and other

Average wind output was significantly higher than last week, with an average output of 6.48GW compared to just 3.19GW during week 36. Solar output was relatively low throughout the week, peaking at 4.51GW on Wednesday 6th September.

*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.