Returning ‘Beast from the east’ has bark worse than its bite

The energy market’s changed over the last 7 days – keep up to date with the Haven Power market report. Here’s a summary of the week: Wintry conditions returned to […]

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By Freddie Rand

The energy market’s changed over the last 7 days – keep up to date with the Haven Power market report.

Here’s a summary of the week:

  • Wintry conditions returned to the UK over the weekend, but with less impact on the prompt price compared to week 9.
  • Seasonal contracts lost value as the front of the price curve suffered losses.
  • An increase in gas storage levels stimulated the National Balancing Point (NBP) and contributed to subsequent power losses.
  • Oil prices were bullish, anticipating the U.S. broadcast of an interview with Saudi Arabia’s crown prince.
  • National Grid called on pumped storage hydro to help reduce system stress.

The Market report is particularly relevant if you’re buying electricity flexibly, or about to sign or renew a fixed electricity contract. Getting these decisions right can reduce your vulnerability to price-peaks in the wholesale market and save you money.

For the details – and our weekly analysis of day-ahead power, imbalance prices, renewable power, seasonal contracts and annual power – simply check out the Haven Power website for the full market report.

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