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Energy Market Update – 7th June 2018

Key Points:

  • UK electricity and gas prices surged today, reaching the highest level since Monday.

Electricity Prices:

The UK Electricity curve largely reflected the nat gas curve. Day ahead and month ahead contracts were trading at £55.25 and £53.55 respectively. Low wind generation pushed prices up.

Long dated contracts were also up. Win-18 finished day at £60.02/MWh, up by 1.64%, wile Sum-19 was trading at £49.24, up by 0.6%.

UK Natural Gas prices:

UK Gas prices for short term delivery moved up quite strongly today. The day ahead contract was closing 11% higher month on month. Unexpected outages and strong demand for power were the main drivers behind soaring prices.

Curve contracts were also trading higher, taking direction from the European coal benchmark which made strong gains. Win-18 closed trading day at 62.55p/th , while Sum-19 was at 48.50p/th.