Wholesale gas and electricity prices finished the week broadly stable with extremely minor movements on Friday.
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| Gas: Gas prices increased last Friday as actual wind generation failed to output forecasted volumes. Maintenance outages on the Norwegian shelf removed supplies from the market, causing prices to rise further. Power: Power prices rose across most contracts at the conclusion of last week, tracking movements in the gas market as wind generation fell below the forecasted 7.9GWs/day causing an increase in demand for gas for power generation. Oil: Oil prices fell last Friday, correcting the rally in prices from Thursday’s session. The market is still wary about escalating conflicts in the Middle East and Eastern Europe, potentially limiting supplies. But poor industrial output from China has also weighed on the market. Carbon (EU ETS): The ICE Dec-24 settled upwards at €72.52/t at the end of last week. The contract is currently trading downwards at €72.16/t this morning. Carbon (UKAs): The ICE Dec-24 rose slightly to £40.91/t at the end of last Friday’s session. The contract is currently trading at £41.00/t this morning. |
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