22nd January 2026 Energy Price Alert – UK Gas & UK Electricity
On Wednesday both wholesale Gas and Electricity prices rose. April and October start date contracts also showed increases for both.
Gas: Gas prices gained significantly yesterday with prompt prices supported by forecasts of periods of cold weather. Front month prices gained >10p/therm. Curve prices have found support from strong price movement at the US Henry Hub.
Power: Power prices gained in value yesterday, with the exception of the day ahead contract. Supported by bullish NBP prices, the front month gained c.9%. Bullishness in UKA carbon markets have provided further upside, out on the curve.
Oil: Oil prices gained yesterday after a volatile day’s trade. Geopolitical concerns outweighed worries over rising US inventories.
Carbon (EUAs): The ICE Dec-26 closed at €87.06/t yesterday. The contract has opened at €89.85/t this morning.
Carbon (UKAs): The ICE Dec-26 traded to £67.43/t yesterday. Opening higher this morning, the contract opened at £70.2/t.
