Wholesale gas and electricity prices gave up all the drops of the past two days on Wednesday, as fears over the storms due in the coming days came into play. This is a short-term issue and not something likely to have a long-term effect on the market. We expect the market to reverse these gains once the weather settles again.
| Gas: Gas prices rebounded yesterday. Forecasts of a short grid and below average renewable generation helped push contracts higher. A yellow energy warning for the end of this week has added support, with worries over LNG vessels being unable to berth. Power: Prices gained during yesterday’s session, supported by both NBP and UKA carbon movements. Below average wind output forecast for next week is helping to support in the prompt. News of a crack found at Civaux 2 EDF nuclear reactor in France has added volatility. Oil: Prices rose yesterday, largely on the back of geopolitical events in the Middle East and news of positive steps in the trade deal between the US and China. Crude front month prices average around $67/bbl at yesterdays close. Carbon (EU ETS): The ICE Dec-25 rose to €74.36/t yesterday. The contract opened at €74.7/t this morning and is currently trading at €74.18/t. Carbon (UKAs): The ICE Dec-25 closed yesterday at £52.75/t. The contract opened this morning trading at £53.04/t. |
#gas #electricity #businessutilities #businessgas #businesselectricity
