Week 43
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 from the company’s Flex & Portfolio Management team, speak to Haven Power directly on 01473 707755 quoting reference HP250.
Seasonal Contracts
Secure and Promote* (Season +1, +2, +3, +4) seasons all decreased by around 15p/MWh, as coal and gas prices shed value over the week. Prices in France also declined due to improved margin forecasts and lessened fears of low nuclear availability. This had a bearish effect on UK contracts due to the interconnected market.
Prompt/Day-ahead Power
The average day-ahead baseload price was up around £0.60/MWh on the previous week at £46.60/MWh. The maximum price of £50.75/MWh was on Wednesday 18th, with less than 2GW of wind output at times. This was in stark contrast to the rest of the week. The least expensive delivery day was Sunday 22nd October.This was due to a large amount of wind generation from storm Brian which affected the UK over the weekend.
Imbalance Prices
Cashout prices over the week averaged £45.95/MWh. No negative prices were achieved this week; the minimum price was £1/MWh on Sunday 22nd. The maximum price achieved was on Monday 16th at £172.14. This was the result of a combined-cycle gas turbine being bought on to provide capacity on a volatile day for the system.
Renewables and other
Average wind output was at similar levels to last week, with an average of 6.7GW. Sunday 22nd October saw the windiest conditions, with an output level of 11.5GW achieved around 1:00pm. Mean solar generation continues to reduce towards the winter months, with mean output during the past week of 0.65GW.
*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.
