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Day ahead prices for power closed the month as they started on around £80/MWh which set the tone for much of the price markers in September, with the market trading sideways for all contracts out from Winter '25.

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Day ahead prices for power closed the month as they started on around £80/MWh which set the tone for much of the price markers in September, with the market trading sideways for all contracts out from Winter '25.

As August got underway things were looking good, wind generation increased and at the same time temperatures began to ease and the market responded accordingly. By mid-month, optimism that peace might be achieved in Ukraine saw wholesale prices continue their slight downward trend.

Wholesale energy prices rose across the board this month with the largest gains being seen on deliveries for this year, especially August which saw a 10% gain. Gas prices followed a similar trend although the short term gains were softer in comparison.

At Clear, our team is our biggest strength. In this series, we’re chatting to the people behind the scenes to learn more about what makes them tick. Today, it’s the turn of Laura-Jane Draper, who’s just joined as Head of Operations.

In a dramatic contrast to May, day ahead power saw a huge swing in June. At the start of the month, predictions for wind output were significantly above seasonal norms for the first week of June and as a result on 02/06 power was trading as low as £27/MWh. By the end of the month, this was up to £91/MWh as a combination of high temperatures and lower wind output put pressure on supplies.

There was precious little movement over May for most of the forward contracts for gas and power up to Winter this year. Day ahead power closed the month roughly 7% down on its start as did July’s deliveries whereas June remained relatively stable.

April’s spot prices continued their downward trend from March as good weather and fair wind output helped to reduce reliance on gas for power leading to a whopping 13% reduction on day ahead gas contracts.

Day ahead prices eased slightly from their positions at the start of the month with both gas and electricity shedding 10% percent of their value as warmer weather saw demand soften. This trend extended into prices for delivery this summer, although planned maintenance of Norwegian facilities beginning later this week and continuing throughout the coming months has done much to keep prices higher than they might otherwise have been.