Energy Market Brief – April 2019Day-ahead gas and power at 20 and 18-month lows
All wholesale power and gas contracts fell further in March as comfortable gas supplies continued and above seasonal normal temperatures eased gas and power demand.
Day-ahead power declined 10.4% in March to average £45.0/MWh, with the contract ending the month at an 18-month low of £42.0/MWh. Prices followed the gas market lower, with periods of high wind generation amid storm Freya and storm Gareth also pressuring prices. All seasonal power prices dropped in February, falling 4.4% on average. Summer 19 power slid 8.1% to average £45.7/MWh and declined as low as £42.8/MWh on 29 March, a one-year low.
All wholesale power and gas contracts fell further in March as comfortable gas supplies continued and above seasonal normal temperatures eased gas and power demand.
Day-ahead power declined 10.4% in March to average £45.0/MWh, with the contract ending the month at an 18-month low of £42.0/MWh. Prices followed the gas market lower, with periods of high wind generation amid storm Freya and storm Gareth also pressuring prices. All seasonal power prices dropped in February, falling 4.4% on average. Summer 19 power slid 8.1% to average £45.7/MWh and declined as low as £42.8/MWh on 29 March, a one-year low.