Wholesale gas and electricity prices were broadly stable on Friday, with very modest drops in the near term and further out.The curve continues to remain very flat, with spreads of around 3% between one-year and three-year contracts.After the increases we’ve seen over the last two weeks, it’s good to see gas at 85.03p per therm and electricity at £77 per MWh.
| Gas: Near curve prices fell in value by close of play on Friday with expected declines in demand over the weekend. Wind output is forecast to drop over weeks 35, 36 and 37, limiting losses. Power: Most power contracts gained in value on Friday. Gains in UKA benchmark prices supported near curve contracts. EDF’s Torness reactor 2 was expected to be back up and running at full capacity yesterday following the unplanned outage. Carbon (EU ETS): The ICE Dec-25 closed at €72.99/t last Friday. The contract opened at €72.88/t this morning and is trading at €73.80/t at time of writing. Carbon (UKAs): The ICE Dec-25 closed at £53.14/t last week. The contract opened at £53.02/t this morning and is currently trading at £53.83/t. |
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