Wholesale gas and electricity markets remain volatile, driven by ongoing global and geopolitical uncertainty. Prices are currently around 13% lower than this time last year, but have risen just over 1% since yesterday.

TPG continues to advise against committing to long-term contracts at this stage, as if and when the situation settles we would hope to see significant price drops across the board.

Gas: Most gas contracts fell in value yesterday with some near curve contracts shedding ~3% of their value. News that the US are looking to restart peace negotiations brought bearishness to prices, helping to ease storage concerns for this coming winter. This morning, gas is trading slightly higher than last night’s close.   Power: Most power prices fell yesterday, tracking declines in NBP contracts. A drop off in wind output supported the day ahead contract. This morning, early market prices are higher than last night’s close.   Oil: Oil prices continued their decline yesterday. Risk premiums have started to unwind as peace negotiations in the Middle East look to resume.  Carbon (EUAs): The ICE Dec-26 closed at €74.15/t yesterday. The contract opened this morning at €74.46/t.    Carbon (UKAs): The ICE Dec-26 rose to £46.91/t yesterday. Opening this morning slightly higher at £47.27/t.

#gas #electricity #businessutilities #businessgas #businesselectricity