On the wholesale energy markets the differences between gas and electricity price changes continue. On Tuesday, electricity prices rose slightly, while gas remained stable. So far, there’s been no noticeable impact at the retail level.

Gas: Gas prices were flat yesterday. Prompt prices edged upwards due to a decline in wind generation, leading to an increased demand for gas-fired generation. British storage closed at 24% fullness yesterday, potentially raising risk of not being full enough for winter.

Power: Power prices were mixed yesterday. In the prompt, prices were bullish due to downward revisions in renewable generation forecasts, falling to 7.2GWs/day over the weekend for wind and 2.7GWs/day for solar. In the curve, prices moved sideways, tracking the gas market. The UK’s energy secretary signed the final investment decision to proceed with the 3.2GWs Sizewell C nuclear plant yesterday.

Oil: Oil prices traded near flat yesterday, with a slight lean towards bearishness due to investors weighing a potential drop in diesel supplies. The market expects the new EU sanctions on Russia to barely affect supplies.

Carbon (EU ETS): The ICE Dec-25 fell to €69.11/t yesterday. Opening at €69.33/t this morning, the contract is currently trading at €69.48/t.

Carbon (UKAs): The ICE Dec-25 rose to £49.55/t yesterday. The contract opened at £49.4/t this morning and is currently trading at £49.71/t at the time of writing.

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