Wholesale gas and electricity prices continued to rise on Friday. This was due to a result of geopolitical issues, mainly now the Ukrainian advances into Russia. The main concern of the markets, bizarrely, is that damage will be caused to Russian gas pipelines even though we no longer use them. We feel that there will continue to be volatility for the next week or so until this latest situation de-escalates.
If you would like to discuss your individual situation please contact me on 07768 421 901, or do feel free to email me at this address.
| Gas: Gas prices increased last Friday as Norwegian outages are expected to limit supplies by 19MCM/day, with further outages expected due to summer maintenance. Power: Power prices rose at the end of last week, tracking the outages in the Gas market. Oil: Oil prices reversed four weeks of losses last week and completed the week bullish. The recovery tracked the return of global equity markets, after the fears of a US recession caused the markets to shed value. Carbon (EU ETS): The ICE Dec-24 fell to €70.04/t at the end of last week. The contract is currently trading at €70.50/t this morning. Carbon (UKAs): The ICE Dec-24 softened to £37.87/t on Friday. The contract has not yet traded at the time of writing. |
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