24th February 2026 Energy Price Alert – UK Gas & UK Electricity
On Monday wholesale gas and electricity prices saw minimal rises, however after the recent decreases the rates are still lower now than they were at the beginning of February.
Gas: Prices gained during yesterday’s session as geopolitical tensions, in particular between the US and Iran, continued to drive market sentiment. Milder temperatures are expected over the coming week, limiting heating demand.
Power: Power prices were mixed yesterday. Despite milder temperatures and increased wind forecasts, many near curve contracts followed bullish NBP movements. Bearish carbon movements impacted some contracts further out on the curve. This morning, the market is trading down on last night’s close.
Oil: Oil prices continued to rise yesterday as tensions between the US and Iran continue to rise, as day three of nuclear negotiations approached, adding risk premium.
Carbon (EUAs): The ICE Dec-26 fell to €71.38/t yesterday. The contract opened this morning at €71.48/t.
Carbon (UKAs): The ICE Dec-26 closed at £46.38/t last night. It opened lower this morning at £46.77/t.
