On Tuesday, wholesale gas and electricity prices continued to drop, as a result of no new geopolitical issues. Our view remains that as/if Russia and Iran take action, there will be further upward pressure, but while the situation remains calm (in relative terms) the market fundamentals will dictate further drops.
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 fell yesterday due to the increase in wind generation in the prompt and low levels of demand as winter storage across Europe is approaching capacity at a record rate. Power: Power prices fell yesterday as the combination of cooler weather and higher wind speeds limited gas for power demand. Declines in the Carbon markets pressured prices in the further out curve. Oil: Oil prices dipped after the rally in the previous session yesterday. Although geopolitical tensions remain high, the threat to direct production remains low. Carbon (EU ETS): The ICE Dec-24 fell to €71.29/t yesterday. The contract is currently trading upwards at €72.36/t this morning. Carbon (UKAs): The ICE Dec-24 fell slightly to £38.45/t at the end of yesterday’s session. The contract has found some support this morning and is currently traded at £38.85/t. |
#gas #electricity #businessutilities #businessgas #businesselectricity
