On Thursday there were small movements in wholesale prices of both Gas and Electricity, with Electricity rising slightly, while Gas dropped slightly.
October contracts still represent better value than April contracts, but the curves are still fairly shallow with longer term contracts still representing better value than short term contracts.
On the generation side the price rose significantly to £84.24/MWh with renewables at 44%, but fossil fuels at 33%, driving the notably higher prices.
| Gas: Gas prices fell yesterday. Medium range storage at 88% is supporting grid balance during the cold snap. The UK expects to receive six LNG cargoes expected by the end of November, supporting send out. Curve prices continued to fall with the hope of a peace negotiation between Ukraine and Russia. . Power: Power prices decoupled from the gas curve yesterday and rose. In the prompt, wind generation fell to 7.4GWs/day, well below seasonal average. Gains in the carbon market influenced curve prices. Oil: Oil prices fell yesterday as President Trump continued to push for a peace agreement between Ukraine and Russia to end the three-year war. However, a larger than expected draw on U.S crude supplies limited further declines. Carbon (EU ETS): The ICE Dec-25 closed at €81.36/t yesterday. The contract opened today at €80.57/t. Carbon (UKAs): The ICE Dec-25 finished yesterday rising to £58.23/t and opened this morning at £57.50/t |
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