Wholesale Gas and Electricity prices ended the week broadly stable, with small reductions across the board.
Let’s hope we see further reductions and some stability in the coming weeks.
| Gas: Gas prices fell at the conclusion of last week, as a high wind output decreased demand for gas in the prompt. However, planned outages from Norway limited supplies and further declines in prices. Power: Power prices were volatile at the end of last week, with bearish support from NBP losses and bullish drivers from the UK carbon market. Oil: Oil prices fell at the end of last week, as the July contract approached expiry. The market was eagerly awaiting the outcome of OPEC+ meeting that was held on Sunday, which will likely drive today’s movements. Carbon (EU ETS): The ICE Dec-24 softened at the end of last week, falling to €74.10/t. This morning, the contract is trading up at €75.18/t at the time of writing. Carbon (UKAs): The ICE Dec-24 continued to strengthen at the end of last week, eventually settling upwards at £48.61/t, setting a new high for 2024. The contract has continued to gain strength this morning, currently trading at £49.10/t at the time of writing. |
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