Wholesale gas & electricity prices retained their festive gift with continuing reduced prices on Monday.

1 year April 25 contracts are now back well below £80/MWh which is welcome news.

TPG have forecasted the recent volatility and maintain their view that prices will drop further in 2025.

Gas: Above seasonal temperatures and strong wind generation pressured NBP contracts downwards during yesterday’s session. Early morning trading is up on last nights close. Power: Power prices dropped yesterday tracing NBP movements. Above average wind generation is adding pressure to the prompt. Oil: Prices fell on the news of weak retail sales in China. Market focus is likely to be on the outcome of the US federal reserve’s final meeting of the year, which takes place today. Carbon (EU ETS): The ICE Dec-25 closed at €65.57/t yesterday. The contract is currently trading softer at €65.32/t this morning. Carbon (UKAs): The ICE Dec-25 fell to £35.14/t yesterday. The contract is currently trading at £34.79/t.

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