The Haven Power Market Report

Week 44 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 […]

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By Freddie Rand

Week 44

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 increased by £0.40/MWh on average over the week, supported by bullish coal and NBP (National Balancing Point). The weather outlook for France indicates a warm November to January, reducing the country’s demand for electricity imports through the winter.

Prompt/Day-ahead Power

The average day-ahead baseload price of £46.12/MWh was similar to the previous week. The maximum price of £46.68/MWh was for delivery on Thursday 26th, when wind output was at its lowest for the week – just 2.6GW. The cheapest delivery day was Sunday 29th at £41.45/MWh.

Imbalance Prices

Cashout prices over the week averaged £35.88/MWh, more than £10/MWh lower than the previous week. Negative pricing occurred during settlement periods 1-7 (00:00 to 03:30) on Sunday 29th, where wind generation was taken off the system. The maximum price of £126.90/MWh occurred during settlement period 17 (08:00 – 0830) on Friday 27th, when National Grid called on relatively expensive pumped storage to balance the system.

Renewables and other

A relatively windy week in the UK saw an average of 6.35GW output. The evening of Saturday 28th saw the highest wind output levels, at 11.23GW; while the early evening of Thursday 26th witnessed the week’s minimum wind output at 2.58GW. Mean solar generation was slightly up on the previous week, at 0.73GW. The clock change (-1 hour back to GMT) will see solar output peaking earlier each day, as darkness falls sooner in the evening.

*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.