Wholesale Gas and Electricity prices rose on Tuesday to reverse the declines of the last few days. 

Gas: Gas prices rose yesterday due to a decline in wind generation. The UK is expected to receive 12 LNG cargoes by 27 December, after already receiving seven in the first week of the month, ensuring ample supplies. British LNG storage is currently at 53% capacity.  Power: Power prices rose yesterday as a lack of wind generation lead to an increased demand for more expensive gas fired generation. Wind is expected to generate a low 6.8GWs/day for the remainder of the week. Oil: Oil prices rose yesterday on the hopes of increased demand hopes from China. China is due to relax fiscal policy in 2025 to attempt to stimulate economic growth. Crude oil imports were up 14.3% between November and October, the first growth in seven months. Carbon (EU ETS): The ICE Dec-24 rose to €68.18/t yesterday. The contract is currently trading flat at €68.15/t this morning.  Carbon (UKAs): The ICE Dec-24 closed at £34.53/t last night. The contract has not yet traded at the time of writing.

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