Day-ahead power surges on low wind generation

Wednesday 3rd March 2021

Whilst power markets were generally benign and bearish through the second half of February, they was a sharp upturn in short-term wholesale as we entered March. A now familiar scenario of low wind and cooler weather sent Day-ahead above £100/MWh again, with it having been at £44 a few days earlier. The uptick was also driven by power station outages …

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Prices rise on arrival of "Beast from the East"

Friday 19th February 2021

The last fortnight has seen big swings in both Short-term and Annual prices across power and gas. A Sudden Stratospheric Warming event above the North Pole put in place a “Beast from the East” weather pattern bringing snow and cold weather (a 30-year low temperature for the UK). This caused short-term energy prices to surge, feeding into Annual sentiment. However, …

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Prices fluctuate on changing weather forecasts

Thursday 4th February 2021

As has been the case more so than ever this winter, fluctuating weather patterns continue to dictate energy prices. For now, it looks as though the extremes on the short-term market have abated, as the weather generally gets warmer across Europe and the wider Northern Hemisphere. Milder temperatures in Asia have heralded a drop in LNG demand and price, as …

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Record highs seen on short-term market

Wednesday 20th January 2021

As has been indicated in earlier communications this month, there has been a lot of volatility in gas and power pricing, particularly on the short-term market. The combination of high gas prices (driven by a buoyant Asian LNG market), low renewable output and a lack of conventional power generation has meant markets have surged. Record Day-ahead power and Day-ahead hourly …

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Lower temperatures and windless conditions increase gas demand

Thursday 7th January 2021

Prices moved up sharply in the lead up to Christmas before showing a partial correction earlier this week. The key driver has been the weather, with cooler than expected temperatures not only across the UK, but vast swathes of the Northern Hemisphere. Demand for LNG has been far more significant in Asia than in recent months and this has boosted …

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