On Tuesday, 22 September, wholesale gas and electricity prices were broadly stable in comparison with recent times, with small increases of £1 per megawatt-hour on electricity and less than a penny per therm on gas. It’s encouraging to see that the wins from Monday and over the weekend have been held, but let’s see what the week holds as the UN General Assembly continues through Thursday.
| Gas: After a volatile session, NBP prices finished the day slightly higher. Prices fell late morning following proposals by Iran that would reopen the Strait of Hormuz. Prices rose sharply following an afternoon speech by US President Donald Trump. This morning the market is down on last night’s close. Power: Most power contracts rose yesterday, tracking NBP gains following comments from the US President at the UN meeting in New York. Out on the far curve some contracts traded flat, influenced by UKA movements. Early market movement is below last night’s settlement. Oil: Crude prices fell again yesterday, finally settling below the $100/bbl mark, the fifth consecutive day of losses for the first time in over a year. Carbon (EUAs): The ICE Dec-26 closed at €86.73/t last night. The contract opened this morning at €86.85/t. Carbon (UKAs): The ICE Dec-26 traded to £58.12/t yesterday. The contract opened at £58.59/t this morning. |
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