Rising commodity prices fed through into the wholesale power and gas markets during December. Long-term power contracts climbed on the back of an increase in fuel prices, especially gas and coal. Annual April 14 baseload power increased 1.4% to a monthly average of £53.1/MWh in December. Annual gas was pushed upwards by rising oil prices. Monthly average annual April 14 gas was up 1.7% to 68.2p/th in December. The contract reached an eight-month high of 68.5p/th on 18 December.
Catalyst Business Energy Market Brief January 2014 - Annual Power Rises on Carbon, Coal and Gas