On Friday, wholesale Gas and Electricity prices jumped up significantly due to the cold temperatures across Europe.
Beyond April 2026, prices were relatively static with minor decreases across the board.
| Gas: Gas prices rose last Friday, as European storage continues to fall whilst there is uncertainty surrounding the quantity of US gas production as cold temperatures cover Europe. The UK is expected to receive seven LNG cargoes by the end of January. Power: Power prices also rose at the end of last week, being supported by the wider energy mix. An unplanned outage at Hartlepool reactor 2 may support prices further in the prompt, if wind generation continues to deliver below average generation, forcing demand for fuel-fired output to rise. Oil: Oil prices rose 3% at the conclusion of last week, after President Trump pressured Iran with tariffs on its vessels and that a US ‘armada’ was heading towards the Middle Eastern nation, sparking sentiment of another conflict. Carbon (EUAs): The ICE Dec-26 traded flat at the end of last week, settling at €88.40/t. The contract has opened at €88.31/t this morning. Carbon (UKAs): The ICE Dec-26 fell to £68.32/t last Friday. This morning, the contract opened slightly lower at £68.26/t. |
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