Wholesale gas and electricity prices continued to fall back marginally on Tuesday. This completes the correction from the increases seen last Friday.
Our view remains that there is little prospect of further significant reductions between now and the end of September, although we equally do not see prices increasing at all during this period.
| Gas: Gas prices fell yesterday as potential supply concerns began to ease, due to the return of exports from Freeport LNG. Power: Power prices fell yesterday, tracking near curve losses in the gas market. Outages at the IFA1 interconnector slowed declines in the prompt. Oil: Oil prices fell yesterday, hitting the benchmark of $80/barrel for the first time in six weeks. Risk increased due to weak demand and rising geopolitical uncertainty, causing investors to adapt their strategies. Carbon (EU ETS): The ICE Dec-24 retraced the previous day’s losses yesterday and rose to €65.73/t. This morning, the contract is currently trading at €65.78/t. Carbon (UKAs): The ICE Dec-24 rose to £40.37/t yesterday. This morning, the contract is trading at £40.20/t. |
#gas #electricity #businessutilities #businessgas #businesselectricity
