Wholesale gas and electricity prices rose marginally on Thursday as a result of the ongoing conflict in the Strait of Hormuz.
On the generation front, the generated price was down at £116.54 per megawatt-hour, with renewables accounting for 40% of total production in the past week.
As I repeatedly say, unfortunately, it does not matter because, as long as there is any gas being used to produce our energy, the price will be set by the highest input item, and gas last week accounted for 25% of the total generated capacity in the UK.
| Gas: Gas prices continued to rise yesterday due to supply concerns, geopolitics and the impact of the UK heatwave increasing gas generation, which weighed on the curve. Prices have opened at similar levels this morning. Power: Power prices continued to rise yesterday, supported by gains in the gas market. High temperatures and low wind generation have further supported gains in the prompt. Prices have opened at similar levels this morning. Oil: Oil prices fell around 3% yesterday as traders factored in the expectation of lower global demand into the price. Prices have recovered slightly this morning. Carbon (EUAs): The ICE Dec-26 traded to €82.00/t yesterday. The contract opened this morning at €81.70/t. Carbon (UKAs): The ICE Dec-26 increased to £59.02/t yesterday. Opening this morning at £58.95/t. |
#gas #electricity #businessutilities #businessgas #businesselectricity