Wholesale gas and electricity prices dropped on Wednesday, and we hope this marks the start of further sustained decreases following the erratic increases of the past week.
| Gas: Gas prices fell yesterday. In the prompt, British demand fell to 98.51mcm, pressuring the prompt contracts and dragging the curve prices down with them. Curve prices were also influenced by the rising Gas storage levels, reducing the risk premiums on the Winter contract. Power: Power prices softened yesterday. Although Wind forecasts showed a decrease of 0.8GW/day next week, the UK is still expected to generate 11.1GW/day, which is well above average. Curve prices fell in line with the Gas market. Oil: Oil prices edged upwards yesterday after US data showed an unexpected drop in US crude inventories. The potential impact of the 50% exports tariff placed upon India by the US has also been weighed, with the expectation of demand for oil to fall. Carbon (EU ETS): The ICE Dec-25 closed at €72.24/t last night. The contract opened at €72.20/t this morning and is trading at €71.80/t at time of writing. Carbon (UKAs): The ICE Dec-25 closed downwards to £51.86/t yesterday. The contract opened at £51.70/t this morning and is currently trading at £51.22/t. |
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