Chart of the week | Ramping up: demand levels, power prices and the outlook ahead

With the recent easing of lockdown measures allowing the re-opening of many parts of the economy, in this Chart of the Week, we take a look at how his has impacted electricity demand and power prices.

GB power prices for baseload electricity in recent weeks would suggest that the market has made a partial recovery already. The day-ahead power price (while typically remaining volatile) recently peaked at £33.10/MWh on 8 July; the highest price traded for the contract since pre-COVID lockdown. In a similar vein, front-month power contracts are no longer in backwardation, (future dated contracts are lower than current contracts), whilst the annual October 20 contact is at its highest price since mid-January.

With the recent easing of lockdown measures allowing the re-opening of many parts of the economy. We take a look at how his has impacted electricity demand and power prices.

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