On Wednesday, as expected, wholesale gas and electricity prices gave up at least half of the gains made on Tuesday.
We expect further stabilisation in the coming days.
Gas: Prices dropped yesterday with expectations of an oversupplied grid. This morning, the market is trading up on last night’s close. Power: NBP losses weighed on the power curve yesterday. Front week wind generation has been revised downwards by 1GW, however this is still 10-20% above seasonal norms. Oil: Prices rallied yesterday as supply tightened. A weaker USD helped demand, as it made non-USD purchases cheaper. Carbon (EU ETS): The ICE Dec-24 closed at €66.54/t yesterday. The contract is currently trading lower at €67.21/t this morning. Carbon (UKAs): The ICE Dec-24 saw some support and rose to £40.93 /t. This morning, the contract is trading at £40.58/t at the time of writing. |
![](https://procurementgroup.co.uk/wp-content/uploads/2024/07/POST-1-13-640x294.webp)
![](https://procurementgroup.co.uk/wp-content/uploads/2024/07/POST-2-13-640x299.webp)
![](https://procurementgroup.co.uk/wp-content/uploads/2024/07/POST-3-12-640x262.webp)
#gas #electricity #businessutilities #businessgas #businesselectricity