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 lost on average £1.20/MWh over the course of the week. Contracts gained value until Thursday – with Winter-17 reaching a high of £52.25/MWh that morning. This was driven by higher fuel prices, particularly European coal, but the gains were lost in the afternoon. The stronger pound brought down the cost of fuel imports to the UK, following the Bank of England’s announcement that interest rates could rise in the near future.
The average day-ahead baseload price over the week was down approximately £1/MWh on the previous week, at £46.04/MWh. The maximum price of £48.31/MWh occurred on Friday 16th September, following lower wind output than in previous days. Monday 11th September saw the lowest day-ahead price at £40.55/MWh, as wind output almost reached 13GW in the early evening.
Cashout prices over the last week outturned at an average of £49.78/MWh. A minimum price of -£7.50/MWh was seen during settlement period 21 (10:00 to 10:30) on 12th September, when some generators were paid to reduce output, as renewable output was relatively high. Settlement period 38 (18:30 to 19:00) on Tuesday 12th September saw a maximum price of £138.93/MWh, when a combined cycle gas turbine (CCGT) at Brigg power station was used to balance the system.
Renewables and other
Average wind output was significantly higher than last week; 7.2GW compared to just 6.5GW during week 37. Solar output was slightly more productive than last week, peaking at 6.1GW on Tuesday 12th September.
*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.