On Monday, wholesale gas and electricity prices rose slightly, and given the weather, there is a chance of further volatility in the coming days. We are hopeful this will have limited impact on retail prices.
| Gas: NBP prices gained yesterday as demand increased. An extension to the unplanned outage at Barrow, now expected back today, further supported prices. This morning, early trading is up on last night’s close. Power: Prices gained yesterday, largely following movements in NBP contracts. Wind forecasts fluctuated yesterday, with the remainder of this week and next week’s outputs being revised upwards. For today’s price outlook, as of last night’s close, please see the table at the bottom of this email. Oil: Crude prices rose yesterday. The USD fell in value yesterday, bringing a bullish element to trading. Concerns over potential supply disruptions, which could result from escalating conflict between Russia and Ukraine, added further support. Carbon (EU ETS): The ICE Dec-25 rose to €73.97t yesterday. Opening lower at €72.60/t this morning, the contract has since bounced back and is trading at €73.97/t at time of writing. Carbon (UKAs): The ICE Dec-25 closed at £54.25/t last night. The contract opened at £54.05/t this morning and is currently trading at £54.34/t. |
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