Tuesday 20 June 2017

The Haven Power Market Report

Day Ahead/Near Curve

Over the past week day-ahead power has decreased £1.16/MWh or 2.8%.

Long Term/Far curve

Over the past week seasonal prices out to season +4 have remained largely flat with all seasonal prices losing less than 1% of value.

System prices

System prices averaged at £42.88/MWh over the week, reaching a maximum of £113.96/MWh during settlement period 36 on 6th May and a minimum of £6.50/MWh over 5 settlement periods (27-29 & 31-32) on 1st May.

Solar/Wind Generation

There is evidence to suggest that system prices were at their highest when renewable output was lowest. The higher system prices were seen when wind output was relatively low, and in contrast low system prices were seen when solar output was highest.

Price data provided by Drax Power Ltd and Haven Power Ltd.  System price and renewable generation data from https://www.elexon.co.uk/

Points of interest

Brent crude oil prices fell to below $45/bbl on Friday 5th May, a low not seen since OPEC’s landmark agreement to cut output back in Nov-16. US shale oil producers are coming back online undoing the gains achieved after the 6 month agreement made between OPEC members to curb production pushed oil prices up to above $55/bbl at the beginning of 2017.