On Wednesday, wholesale gas and electricity prices rose marginally. We are still seeing volatility in the day ahead market, but this has zero impact for our clients committing to contracts starting more than one month hence.
| Gas: Prices remained relatively steady throughout most of the curve yesterday. The main movements were in the prompt where Norwegian outages and a shortfall in wind generation added pressure. Power: Near curve prices gained yesterday on the back of NBP increases. With wind forecasts below seasonal norms over the coming week, prompt prices are expected to be bullish. Oil: Crude prices fell yesterday as data released by the EIA showed that US inventories remained healthier than expected. The ongoing demand worries out of China added further downside. Carbon (EU ETS): The ICE Dec-24 closed at €70.77/t yesterday. This morning the contract has been volatile but is currently trading at €70.29/t. Carbon (UKAs): The ICE Dec-24 closed at £41.75/t yesterday. This morning the contract is currently trading at £41.56/t. |
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