In advance of the first cold snap of Winter, prices rose on Friday.
This sort of volatility is to be expected and, as you can see on the charts below, is focused on the period to the end of March.
| Gas: Gas prices rose at the end of last week. In the prompt, prices rose supported by forecasts of cold weather with the remainder of the prompt rising, expecting an increase in demand. Curve prices rose following the risk of winter and the UK’s lower levels of storage. Power: Power prices were bullish at the conclusion of last week. A lower wind output in the prompt supported day ahead gains. Curve prices tracked rising gas prices. Oil: Oil prices settled more than 2% higher on Friday as Russia’s port of Novorossiysk halted all oil exports following the Ukrainian drone attack. Carbon (EU ETS): The ICE Dec-25 fell to €80.93/t at the end of last week. The contract has opened higher today at €81.16/t. Carbon (UKAs): The ICE Dec-25 fell to £57.00/t last Friday. Opening this morning higher at £58.78/t. |
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