Wholesale Gas and Electricity prices weakened markedly on Tuesday and continue to show signs of further weakening going forward.
| Gas: Gas prices softened across all contracts yesterday. Temperature driven demand volatility is fading in the prompt as the UK enters warmer months, with temperatures being one to three degrees higher than average. Demand uncertainty continues to weigh on the curve, with global demand dependant on economic activity. Power: Power prices fell yesterday, pressured by above average solar generation in the prompt. Curve prices fell due to losses in the gas and carbon markets. Oil: Oil prices rose yesterday, despite a weakening global economic outlook, which suggests the market corrected itself yesterday after heavy losses. The IMF forecast global growth to be slower this year, down to 2.8%, due to the US tariffs and weaker forecasts for the US and Chinese economies. Carbon (EU ETS): The ICE Dec-25 closed downwards to €64.89/t yesterday. After opening at €65.23/t this morning, the contract is currently trading at €65.61/t. Carbon (UKAs): The ICE Dec-25 fell to £46.70/t yesterday. The contract is currently trading at £46.94/t at the time of writing. |
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