Wholesale Gas and Electricity prices gave up most of Friday’s and Monday’s small gains on Tuesday.
| Gas: Gas prices rose yesterday as the cold snap boosted the prompt, causing a short system. The curve rose, tracking the European markets as Europe increases storage withdrawals. Power: Power prices strengthened yesterday, shadowing the wider energy complex. In the prompt, wind generation is expected to perform 10-20% below average at 11GWs/day for the rest of this week and next week. Oil: Oil prices rose yesterday as investors weighed up the impact of Western sanctions on Russian oil and the US administration starting to interview for the next Federal Reserve chair. Carbon (EU ETS): The ICE Dec-25 strengthened to €81.22/t yesterday. The contract has opened lower today at €80.10/t. Carbon (UKAs): The ICE Dec-25 rose to £56.99/t last night. This morning it opened lower at £56.72/t. |
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