13th January 2025 Energy Price Alert – UK Gas & UK Electricity
Wholesale Gas and Electricity prices were broadly stable on Friday, after the drops throughout last week.
Gas: Gas prices rose at the end of last week due to a Ukrainian attack on Russian energy infrastructure that could supply Europe with gas. Dragon LNG is expected to go into maintenance and lose 50% of capacity on the day tomorrow.
Power: Power prices rose last Friday, with support from the wider energy complex. Unplanned outage at Hartlepool 1 is expected to end on 24 January. Stronger wind forecasts for week 4 at 13.8GWs/day softened the Day ahead prices.
Oil: Oil prices were supported by the US setting new sanctions against Russian oil. This tightened supplies and raised prices of oil by 4%, with Brent crude exceeding $80/barrel during intraday trading for the first time since October.
Carbon (EU ETS): The ICE Dec-25 continued to strengthen at the end of last week and rose to €74.85/t. The contract is currently trading at €76.00/t this morning.
Carbon (UKAs): The ICE Dec-25 rose to £34.88/t last Friday. The contract is trading at £35.4/t at the time of writing.
