Following the positive noises over the weekend ahead of the United Nations General Assembly this week, wholesale gas and electricity prices dropped sharply on Monday, 21 September, throughout the whole period through to Winter 2026, with double-digit reductions across the board. This is welcome news, albeit probably driven more by American diplomacy than by actual facts on the ground. We can but hope for a swift resolution and a resumption of normal activity.
| Gas: Gas contracts rose during Friday’s session, cancelling out the previous day’s losses. Risk premiums increased as the weekend approached while there remains no end in sight for the conflict between the US and Iran. This morning, early trading is below last week’s settlement. Power: Power prices tracked NBP gains during the final session of last week. Falling wind forecasts brought further support to prompt contracts. This morning, the market has opened below Friday’s close. Oil: Prices eased slightly during Friday’s session with Brent settling around $104/bbl. Carbon (EUAs): The ICE Dec-26 closed at €86.89/t last week. The contract opened this morning at €86.59/t. Carbon (UKAs): The ICE Dec-26 traded to £59.36/t on Friday, opening at £59.84/t this morning. |
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