- Gas prices ended higher at the end of November. High levels of flows of LNG and hold-ups with Norwegian imports affected prices, as did above normal seasonal temperatures.
- Day-ahead closed the month at 42.25p/th which is higher than normal. Month-ahead increased to 42.55p/th.
- The electricity markets were bullish towards the end of November when demand was the highest since the early part of the year.
- Day-ahead increased by 2.7% to £47.50/MWh. Month-ahead increased by 2.7% to settle at £48.30/MWh.
- Towards the end of November, wind generation rose to its highest level since February, contributing 25% to the overall power output.
- Brent crude oil prices rose as a result of lower than expected output from the US, and the market remained unsettled as a result of continued trade negotiations between the US and China. Brent Crude oil prices were in the region of $62/bbl at the end of the month.
- There was an increase in coal generation during the middle of the month resulting in the highest level of coal generation since January.
Carbon EU ETS
- Commentators are talking about a reduced demand for carbon allowances. During the month, carbon prices faced downward pressure.