Carbon emissions prices returned to record high levels on Monday.
27 April 2021
Prompt gas prices recovered some of Friday’s heavy lossesThe UK gas system was over-supplied with forecast deliveries running 23MCM long yesterday morning. A reduction in Langeled flows and LNG send-out from the Isle of Grain saw the system finely balanced at the close. With lower power demand and a slight pick-up in wind availability, overall demand matched the seasonal norm early on but increased slightly over the course of the day. Prompt gas prices recovered some of Friday’s heavy losses, within day and day ahead contracts gaining 1.35p and 1.90p respectively. The May and June contracts also recovered somewhat, but prices beyond July saw a continuation of the decline which started on Friday.
GB baseload power futures recovered half of Friday’s steep losses yesterday as gas and carbon prices firmed again on the day. EU ETS unit prices reversed Friday’s minor loss to return to record high levels as the deadline for 2020 emissions compliance hits at the end of this week and many participants are still purchasing to comply. The day ahead baseload power contract shed £2.25/MWh as wind and solar generation picked up yesterday. Solar generation peaked at over 5GW, surpassing wind and matching nuclear in the GB generation stack on the day.
EU ETS unit prices reversed Friday’s minor loss to return to record high levels