Business Renewals

Wholesale Energy November 2018

Wholesale Prices

All forward curves on the wholesale energy November 2018 markets fell throughout the month from a November contract starting point of £64/MWh to finish on £59/MWh with a monthly low annual forward curve price of £56.

Day ahead spot gas prices were relatively level throughout the month with an opening and closing point of around 63p/therm.  Further out on the longer range contract curve prices again were flat with annual contracts for 2019 and 2020 unmoved with a premium of 6p/therm on the 2020 contract.

Exchange rates saw opening and closing points of 1.14 and 1.12 respectively for the euro with similar falls seen in the $ which opened at 1.29 and ended the month at 1.27.

The big mover of the month was Brent Crude that opened at $73 but lost around 18% of its value to finish at $60.  It is likely that OPEC could take moves to try and prop up the value as the commodity has lost significant ground since its three year high of $86 just 2 months ago.

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