5th November 2025 Energy Price Alert – UK Gas & UK Electricity
Wholesale Gas and Electricity prices rose markedly on Tuesday, due to very weak wind production.
Gas: Gas prices rose yesterday, as the prompt fundamentals were caught between above average temperatures and a below average wind output. The curve continued to rise despite fundamentals remaining stable. But far curve contracts were supported by carbon gains.
Power: Power prices rose yesterday, tracking the wider energy complex. In the prompt, a low wind generation of 2.5GWs/day supported prices. A well below average forecast of 8.5GWs/day for next week is likely to support gas-fired generation.
Oil: Oil prices settled lower yesterday. Weak manufacturing data and a strong trading $USD weighed on demand. OPEC+’s decision to pause output hikes in the first quarter of 2026 signals the group’s concern about the global supply glut.
Carbon (EU ETS): The ICE Dec-25 increased to €82.31/t yesterday. The contract has opened lower today at €81.85/t.
Carbon (UKAs): The ICE Dec-25 rose to £58.55/t last night. Opening this morning at £58.41/t.
