Wholesale gas and electricity prices rose on Wednesday as a reaction to the colder weather and a reduction in wind generation.
| Gas: Prices gained yesterday as wind generation dropped below initial forecasts. Temperature forecasts for next week are above seasonal norm, lowering gas for power demand. Power: There were gains through the power curve yesterday tracking upward movement in NBP prices. Temperatures through the rest of the week are below seasonal average, likely having an impact on the day ahead contract due to heating demand. Oil: Benchmark prices bounced back yesterday, following the previous day’s losses. Both OPEC and the EIA have reduced their demand growth forecasts for the year, with falling Chinese demand being a main driver. Carbon (EU ETS): The ICE Dec-24 closed at €66.40/t yesterday. The contract has dropped further this morning, currently trading at €65.79/t. Carbon (UKAs): The ICE Dec-24 closed at £42.45/t yesterday. The contract remains untraded this morning. |
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