Long-term contracts down on weaker commodities
Sharp falls in oil, as well as continued reductions in coal prices, pulled long-term contracts down over December. Summer 15 gas dropped 3.4% to average 50.1p/th, ending the year 19.5% lower than levels seen at the start of 2014. Long-term power prices followed, with the summer 2015 contract dropping 1.6% month-on-month to average £47.1/MWh. Annual April 2015 power was down 2.2% to average £49.2/MWh.