The Haven Power Market Report

Week 39 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 39

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 on average £0.75/MWh over the course of the week, with Winter-17 falling furthest by £1.45/MWh. Prices for Winter-17 have receded in recent weeks, based on increased confidence that supply margins are likely to be less tight at peak times than last winter. This, coupled with the guaranteed contribution of plant participating in the Capacity Market, has added to general confidence in the UK market. The upturn in confidence has occurred despite the risk premium associated with the closure of Rough storage and the possibility of French nuclear outages.

Prompt/Day-ahead Power

The average day-ahead baseload price was up around £2/MWh on the previous week, at £48.30/MWh. The maximum price of £55.50/MWh occurred on Tuesday 19th September, following lower wind output compared to previous days. Sunday 24th September saw the lowest day-ahead price at £42.73/MWh, with lower demand and moderate renewable output keeping prices low.

Imbalance Prices

Cashout prices over the last week outturned at an average of £46.75/MWh. A minimum price of £0/MWh was seen on 4 occasions this week; generally, when the system had to turn down generation. Settlement period 15 (07:30 to 08:00) on Tuesday 19th September saw a maximum price of £176.69/MWh, where coal at Ratcliffe-on-Soar was brought on to meet the demand of that morning’s pickup.

Renewables and other

Average wind output was slightly lower than last week, with an average of 4.80GW compared to 7.2GW during week 38. Solar output was moderate throughout, with a mean output of 1.2GW

*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.