September Markets Update

Gas market trends

• All seasonal gas contracts fell in August, down 2.3% on average.
• Winter 19 gas was 5.5% lower with an average of 48.7p/th. Summer 20 gas was down 3.0% to average 44.7p/th. The
• Annual October 19 gas contract dropped 4.3% to average 46.7p/th.
• Day-ahead gas fell 5.6% to average 28.3p/th as a result of low demand due to higher temperatures.

Power market trends

• All seasonal baseload power contracts owered in August, down 2.7% on average.
• Winter 19 power dropped 5.0% to £54.1/MWh. Winter 19 power lowered to £51.5/MWh, a 15-month low.
• Summer 20 power fell 2.5% to average £49/MWh. The annual October 19 power contract decreased by 3.8% to average £51.5/MWh.
• Day-ahead power dropped 5.3% to average £39.6/MWh and September 19 power fell 2.1% to average £42.5/MWh.

World Oil

• Brent crude oil prices dropped 7.5% to average $59.8/bl, caused by concerns of weaker economic growth and lower demand.

Coal

• API 2 coal prices fell 4.5% to average $65.0/t in contrast to July’s increase. Coal prices remain weak throughout Europe.

Carbon EU ETS

• EU ETS carbon fell again to 3.1%, most likely because of concerns of a no-deal Brexit.