Power and gas have annual highs last month as the UK experienced freezing weather and dwindling gas stocks, and unplanned outages caused supply concerns.In February annual power prices picked up on the back of rising oil prices. Despite the fall in oil price during March, supply concerns and colder weather have supported prices throughout the month.April 2013 Energy Price Highlights The annual April 2013 power contract climbed 2% month-on-month to average £52.9/MWh. But on average the annual power contract is still 2% lower than this time last year. The annual gas contract rose 2.8% to a monthly average of 69.5p/th. The annual gas price has climbed 13% since July, and is up 3% on last year. Month-ahead Brent crude decreased 6% to a monthly average of $109.6/bl following the debt crisis in Cyprus. Continuing oversupply in the coal markets saw Annual API coal fall $4.55/t to a monthly average of $94.9/t. Carbon prices slipped further as uncertainty continued to surround EU plans to improve carbon pricing. Annual carbon dropped 11% to a monthly average of €4.2/t.
Catalyst Energy Market Brief April 2013 - Wholesale Electricity and Gas Prices