UK power prices stay high as gas shows no signs of easing

UK baseload power prices were around GBP150-GBP200/MWh Tuesday for balance week delivery, with the highest price seen being GBP200/MWh, while peaks were offered as high as GBP240/MWh as the UK's energy "crisis" continued, traders said Tuesday.

"It's all on the back of gas," said one.

The prices were up from Monday, when balance week got only as high as GBP162/MWh. Prices for delivery next week were a little lower, around the GBP120/MWh mark, traders said Tuesday. "There's only a day or two of storage left and then we are left relying on the Interconnector and beach deliveries," said one.

UK gas prices continued above 200 p/th on the National Balancing Point Tuesday with traders seeing little sign of respite. In the early years of this decade gas prices were commonly around 20p/th. Day-ahead spiked to 250 p/th, though it was closer to 230 p/th at noon, while within day was quoted at 210 p/th at midday, trader said.

Thursday baseload power meanwhile traded Tuesday morning at GBP165/MWh while Friday was done at GBP110/MWh. The weekend was assessed at GBP100/MWh

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