Wholesale Gas and Electricity prices rose on Monday, we believe as a result of further political instability created by the death of the Iranian president.
The markets are reporting that it was a result of lower wind production and a Norwegian outage, but we believe the geo-political factors are a more appropriate explanation.
| Gas: NBP contracts gained yesterday, as low wind outputs and planned Norwegian outages pressured the market. Power: Power prices rose yesterday, supported by movements in the wider energy complex. Solar output for next week is forecast 20% above seasonal norm. Oil: Oil prices were volatile throughout yesterday’s session, falling off as we moved throughout the afternoon. Carbon (EU ETS): The ICE Dec-24 closed at €74.22/t yesterday. This morning, the contract is currently trading down at €73.42 /t. Carbon (UKAs): The ICE Dec-24 gained yesterday, settling at £42.88/t. Opening slightly lower today, the contract is currently trading at £42.79/t. |
#gas #electricity #businessutilities #businessgas #businesselectricity
