Wholesale and gas electricity prices rose slightly on Monday in the short term, with some drops further out in the longer term.
| Gas: Gas prices rose yesterday following a short grid by 9.2mcm as domestic demand increased due to the colder weather. Further escalations in the Middle East also rose prices as the market anticipated LNG supply disruptions. Power: Power prices were mixed yesterday. Bullish support from gas market was met with bearish prices from carbon. The UK’s last remaining coal plant was set to close yesterday, 30 September, as the UK begins phasing out goal generation completely. Oil: Oil prices rose yesterday following the escalating conflict in the Middle East despite bearish fundamentals of weak demand from China and a surplus of supplies from Saudi Arabia. Carbon (EU ETS): The ICE Dec-24 closed softer yesterday at €65.56/t. The contract has continued to reverse the gains made last week in this morning’s session and is currently trading at €63.72/t. Carbon (UKAs): The ICE Dec-24 closed at £36.45/t yesterday. The contract is currently trading at £35.70/t this morning. |
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