Wholesale Gas and Electricity prices continued their downward momentum on Tuesday with 1 year April Gas contracts now at 70p/thm and 1 year October gas contracts below 68 p/thm.
| Gas: Gas prices continued to soften yesterday. In the prompt, the UK expects to receive seven LNG cargoes by 13 December. Curve prices were dragged down by the bearish prompt. Investors are waiting for a direction from the Ukraine and Russian negotiations. Power: Power prices fell yesterday, tracking the wider energy complex. There was an increase in forecasted wind generation in the prompt with expectations to reach 12.5GWs/day over the weekend. Bearish sentiment from the gas market influenced the power curve. Oil: Oil prices continued to fall yesterday. The oversupplied market outweighed the still ongoing talks between Ukraine and Russia with investors losing confidence of an agreement being reached soon. Carbon (EU ETS): The ICE Dec-25 fell to €81.82/t yesterday. The contract opened today at €81.83/t. Carbon (UKAs): The ICE Dec-25 closed trading downwards to £56.14/t yesterday. Opening this morning at £56.48/t. |
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