Renewables Records Set in 2017, Fresh Highs for Power Prices
2017 sees a host of new records for renewable generation. Near-term prices fall, seasonal contracts hit fresh highs.
Despite it being the New Year, the energy market continued some of the trends we saw towards the end of 2017: near-term gas and power contracts decreased, while seasonal contracts moved higher. Day-ahead power fell by 8.8% in the last two weeks of the year, while last week, Winter 18 reached its highest price since September 2015. Unrest in Iran meant that Brent Crude oil was the most expensive it’s been since May 2015.