Wholesale gas and electricity prices moved upwards on Friday with more significant movement in the near term.

This is typical behaviour for this time of the year.

Gas: Gas prices pushed upwards at the culmination of last week, backed by lower than expected wind output and a short grid. In the prompt, gains were capped by above seasonal norm temperatures.   Power: Most power contracts gained on Friday, tracking bullish gains in NBP prices. Gains in benchmark UKA carbon contracts further supported out on the curve. This morning, early trading is down on last night’s close.   Oil: Prices ended Friday down for the day, and week. Oversupply concerns proved to be a primary driver of downwards movements. Geopolitical factors continued to add volatility, providing a floor.   Carbon (EUAs): The ICE Dec-25 closed at €83.79/t last week. The contract opened today at €83.67/t.   Carbon (UKAs): The ICE Dec-25 finished trading at £55.90/t on Friday. The contract opened at £56.10/t today.

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