Wholesale gas and electricity prices rose markedly on Monday, cancelling out any benefit from Friday’s drops. We hope this is a short-term fluctuation, symptomatic of the nature of the market at the moment.
| Gas: Gas prices gained yesterday. Prompt prices were supported by falling temperatures. On the curve prices followed movements in the prompt. Market movement this morning has been mixed, with the front month up on last night’s close whilst the front season has shed some value. Power: Power prices found bullish momentum yesterday, supported by strong gas and carbon movements. Despite price gains, wind output forecasts throughout this week and next have been revised upwards. For price outlook, as of last night’s close, please see the bottom table in this email. Oil: Oil prices gained yesterday, with OPEC+ output rises being smaller than expected. The front month closed, yesterday, c.$65.50/bbl. Carbon (EU ETS): The ICE Dec-25 rose to €77.17/t yesterday. Opening at €76.98/t this morning, the contract is currently trading at €77.05/t, at time of writing. Carbon (UKAs): The ICE Dec-25 rose to £57.1/t last night. The contract opened at £56.85/t this morning and is currently trading at £57.15/t. |
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