Wholesale gas and electricity prices fell on Thursday, settling back after an increase on Wednesday. Overall for the week, wholesale prices are stable. There is turbulence in the market at the moment due to geopolitical uncertainty in Ukraine and the Middle East, but the underlying fundamentals still support continued price softening.
| Gas: Gas prices fell across all contracts yesterday. Warmer temperatures and high renewable generation reduced demand for gas and softened prices in the prompt. Power: Power prices fell yesterday, tracking the underlying losses in the wider energy complex, namely gas and carbon markets. A high wind output of 12.7GWs/day over the weekend provided relief in the prompt. Solar is expected to continue performing above average at 3.1GWs/day. Carbon (EU ETS): The ICE Dec-25 fell to €72.15/t yesterday. The contract opened at €72.34/t this morning and is currently trading at €72.20/t. Carbon (UKAs): The ICE Dec-25 closed downwards to £52.95/t yesterday, erasing the gains made earlier in the week. Opening slightly higher at £53.40/t, the contract is currently trading at £53.25/t. |
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