Wholesale Gas and Electricity prices were broadly stable on Friday, although the Q4 ’24 pricing saw an exceptional rise. We’re not sure if this an error on the report or not, as the end of day prices are not reflective of the changes shown.
| Gas: Gas prices rose throughout most of its curve at the conclusion of last week. Prices climbed as a result of an unplanned outage at Cygnus, and a decline in expected renewable generation over the weekend. Power: The power price far curve tracked climbs in the carbon and gas markets. Supplies in the prompt were limited by an unplanned capacity reduction at Hartlepool 2 (reducing output by 220MWs), combined with a capacity reduction over the UK/France interconnector. Oil: Oil prices eased on Friday after a week of overall gains. US inflation came in at 2.6%, which is above the 2% target for the Federal Reserve, but low enough to begin investigating the lowering of interest rates. However, investors remain concerned about China’s stagnating economy, and their manufacturing sector contracting during June. Carbon (EU ETS): The ICE Dec-24 increased to €67.47/t last Friday. The contract is currently trading at €69.04/t this morning. Carbon (UKAs): The ICE Dec-24 traded relatively flat at the end of last week, slightly gaining to £46.26/t. The contract is trading slightly up this morning, opening at £46.77/t. |
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