Despite a notable reduction in coal prices and lower summer demand, longer-term power prices remained stable in June as a result of rising gas prices. The annual October 2013 gas price increased 0.4% to a monthly average of 67.8p/th. This followed the announcement that the Troll gas field in Norway would be operating at a reduced output this winter, which led to concerns that the UK could see gas supplies tighten.
Power prices were pushed up by the rising gas price, but remained at a monthly average of £51.7/MWh. This came despite a significant fall in the value of coal, which dropped to a three-year low of $85.3/t on 25 June as a result of market oversupply.
On average oil prices were flat. The monthly average price of Brent crude oil was $103.2/bl, 0.1% higher than May, as concerns about economic growth in China and the US were offset by the continuing conflict in Syria.
Monthly average carbon prices rose 23% to €4.31/t in June on the back of news that the European environment committee had voted to send an updated back-loading proposal to the European Parliament for a vote.
via Catalyst Business Energy Market Brief July 2013.
Catalyst Business #Energy Market Brief July 2013 - Wholesale Energy Price Graphs
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