On Monday there was very slight upward pressure on near term Gas and Electricity prices, driven by the cold weather, although further out prices dropped. 

On April-start contracts, the curve is still less than 5% on Electrics, but approximately 10% on Gas.

October contracts continue to see a flat curve on both Gas and Electrics.

Gas: Prompt prices gained yesterday on the back of colder weather. Near curve prices also moved upwards with storage withdrawals anticipated. On the far curve prices fell in value.   Power: Most prompt prices gained in value yesterday, tracking NBP gains with further support from a drop in forecasted wind output. Further out on the curve prices shed value; a fall in benchmark Dec 26 UKA carbon prices impacted the power winter 26 contract. Oil: Oil prices fell off as activity started back at Novorossiysk hub, following recent drone attacks. The front month closed last night at c.$63.80/bbl.   Carbon (EU ETS): The ICE Dec-25 fell to €79.92/t by last night’s close. The contract has opened lower today at €79.76/t.   Carbon (UKAs):  The ICE Dec-25 fell to £56.55/t last night. This morning it opened lower at £55.90/t.

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