20th November 2024 Energy Price Alert – UK Gas & UK Electricity
Wholesale Gas and Electricity prices finally dropped back on Tuesday, consolidating a good start to the week with no increases.
That said, TPG’s view is that we should expect volatility as it’s very cold and during Winter there is rarely stability.
Gas: Gas prices fell yesterday after a price correction. The UK expects to receive seven LNG cargoes by the end of November, after receiving five cargoes in the first half of the month.
Power: Power prices fell yesterday tracking the gas market and falling carbon prices. Lower than average temperatures in the prompt limited further declines.
Oil: Oil prices were volatile yesterday as Ukraine struck Russia with US made missiles, adding further concern of supply disruptions to the escalating conflict.
Carbon (EU ETS): The ICE Dec-24 fell to €68.13/t yesterday. The contract is currently trading at €68.31/t after opening at €67.89/t.
Carbon (UKAs): The ICE Dec-24 fell to £37.08/t in yesterday’s session. The contract is currently trading slightly higher at £36.95/t this morning.
