On Monday wholesale Gas and Electricity prices continued to rise, although interestingly in the retail market prices are still dropping.
The table below shows a summary of changes in EDF pricing released earlier this morning:
No changes to 0-6 month prices.
Electricity, Low, 1 & 2 year – No change
Electricity, Low, 3 year – Decrease
Electricity, Medium, 1 year – No change
Electricity, Medium, 2 & 3 year – Decrease
Electricity, High 1, 2, & 3 year – Decrease
Gas, Low, 1 year – Increase
Gas, Low, 2 year – No change
Gas, Low, 3 year – Decrease
Gas, Medium, 1 year – No change
Gas, Medium, 2 & 3 year – Decrease
Gas, High, 1 & 2 year – No change
Gas, High, 3 year – DecreaseOur view remains that prices will drop despite the current volatility.
| Gas: There were gains throughout the NBP curve yesterday, with attacks on Ukrainian gas storage facilities being one of the key drivers. Reduction in wind forecasts and colder temperatures also helped drive prompt prices up. This morning, the market is currently trading down on last night’s close. Power: Power prices followed the same trend as the wider energy complex yesterday, with gains seen throughout the curve. Geopolitical tensions have heightened, following Russian strikes on Ukrainian energy infrastructure, adding pressure to rising commodity markets. Oil: Benchmark prices gained during yesterday’s session. Geopolitical volatility continues to be a driving force. Carbon (EU ETS): The ICE Dec-24 closed at a month long high of €65.00/t yesterday. The contract opened lower this morning but is now trading at €65.33/t at the time of writing. Carbon (UKAs): The ICE Dec-24 closed at £39.55/t yesterday, the highest it has been since early January. At time of writing, the contract is trading at £39.45. |
#gas #electricity #businessutilities #businessgas #businesselectricity
