Gas contracts tumble to six-month lows
Energy Market Brief - Apr17
During March, prices continued to fall across power and gas markets. Brent crude oil, API 2 coal and EU ETS carbon prices also decreased.
In March, day-ahead gas dropped 20.5% to 41.1p/th, the lowest monthly average in six months, amid lower demand owing to milder temperatures.
Seasonal gas prices moved an average of 5.5% lower. Summer 17 gas went down 9.7% to average 40.4p/th. Winter 17 gas declined 6.8% to average 46.8p/th.
Day-ahead baseload power lost 15.1% to average £42.0/MWh. The month-ahead contract also experienced a loss, down 10.3% to average £42.5/MWh.
Most seasonal baseload power contracts decreased, following the gas market downwards, with an average fall of 3.2%. Summer 17 power went down 6.5% to average £41.2/MWh.