Prices rise across commodity and power markets
Energy Market Brief - Feb17
During January prices generally rose across commodity and power markets, owing largely to lower temperatures leading to increased gas and power demand. In January, day-ahead gas climbed 14.7% to average 53.4p/th.
Seasonal gas prices moved an average of 5.3% higher. The summer 17 contract experienced the largest rise (of 8.4%) to 45.9p/th. Winter 17 gas moved up 6.0% to average 51.0p/th.
In January, day-ahead baseload power rose by 8.7% to average £53.2/MWh. The month-ahead contract also experienced gains, up 3.5% to £54.8/MWh. On 26 January, peak electricity demand on the transmission network reached 51.7GW, the highest demand level seen this winter so far.
All seasonal baseload power contracts increased, following the gas market upwards, with an average rise of 4.6%. Summer 17 power went up by 6.7% to average £45.8/MWh.