Gas
- On 30th November, market close data revealed the one-year forward price for commercial gas closed at 38.81 ppt, a small rise since the end of October (88.60 ppt).
- With a cold weather forecast for the month ahead, this upward trend is expected to continue throughout December.
Power
- Market close data on 30th November placed the one-year forward price for commercial electricity at £48.26/MWh, a big increase from £45.71/MWh on 30th October.
- The UK’s supply is set to be challenged this month as weaker renewable generation and colder temperatures will increase demand for power, gas, and coal.
Oil
- The national decision to approve the widespread use of the COVID vaccine has buoyed UK oil prices as hopes of an economic recovery set in.
- As of 1st December, Brent prices rose to around $48.14 (£35.40) per barrel and WTI crude gained 0.7% from the end of November to $45.47 (£33.73).
Coal
- Following rising fuel markets towards the end of December, coal followed suit, offering some resistance to the back of the curve and limiting losses.
- Coal deliveries to US power plants rose to 115.74 million st in the third quarter, 21% lower than 146.59 million st in the same quarter a year ago.