Short-term power up despite a fall in gas
Extensions to planned nuclear outages combined with lower wind output to drive short-term baseload power prices upwards. Month-on-month the day-ahead power contract rose 6.7% to average £53.1/MWh in January. The contract is now 4.7% higher than the 2013 average of £50.7/MWh.
In contrast, short-term gas prices decreased during the month as a result of high LNG deliveries and lower demand. Day-ahead gas prices dipped 5.1% to average 65.9p/th in January.
Short-term wholesale electricity up despite a fall in gas