On Monday wholesale gas and electricity prices were broadly flat which was welcomed after the increases of the previous two days.
| Gas: Gas prices softened yesterday. Despite cooler temperatures (as low as 4°C for week 52) and a low wind supporting demand, prices still fell in the prompt and the curve as Asian LNG fell to its lowest price since March 2024, easing rates for European buyers. Power: Power prices softened yesterday, tracking influence from the gas market. Wind generation is expected to create an average of 12.3GWs/day over the next week, in line with seasonal norms. Oil: Oil prices fell yesterday, as oversupply concerns and the potential impact of Russian oil returning to the market – if there’s a Ukraine/Russia peace deal – outweighed disruptions linked to the escalating US/Venezuelan tensions. Carbon (EUAs): The ICE Dec-25 closed at €87.28/t last night. The contract opened today at €87.32/t. Carbon (UKAs): The ICE Dec-25 closed trading at £59.42/t yesterday. The contract opened at £59.66/t today. |
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