Wholesale gas and electricity were broadly stable on Tuesday for the second day in a row. It is comforting that, up to now, the increases and extreme volatility seem to have calmed down.
| Gas: Gas prices traded flat yesterday. In the prompt, demand fell to 128.14mcm, but a less than average wind output limited the declines in demand. The UK is expected to receive two LNG cargoes by September, likely to be used for injecting into storage. Power: Power prices traded flatly alongside the gas and oil markets. Solar is expected to perform above average at 2.8GWs/day for the remainder of the week. Wind is expected to average out at 8.3GWs/day. Oil: Oil prices traded flatly yesterday. Talks between the US and Russia about ending the war in Ukraine did not result in any significance either way for the markets. Carbon (EU ETS): The ICE Dec-25 fell at €71.16/t yesterday. The contract opened at €71.16/t this morning and is currently trading at €71.35/t. Carbon (UKAs): The ICE Dec-25 fell to £50.58/t yesterday. The contract has not yet traded at the time of writing. |
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