Friday was broadly stable for wholesale Gas and Electricity prices with very modest movement.

Gas: A mixed day for gas pricing as nearer term prices fell, whilst there were gains further out on the curve. Warmer temperatures limited heating demand. Average wind generation could limit gas for power demand. This morning contracts are trading down on last nights close.   Power: There were small gains throughout the curve during Friday’s session. Wind output is expected to pick up towards the end of the week, back within seasonal norm. Temperatures are also expected to rise limiting demand.   Oil: Friday ended a strong week for oil prices. OPEC+ has announced plans to reign in overproduction by members, with cuts of around 199,000-435,000 barrels/day. US sanctions on Iran added further upside.   Carbon (EU ETS): The ICE Dec-25 closed at €71.45/t last week. This morning the contract is trading slightly lower at €71.32/t.   Carbon (UKAs): The ICE Dec-25 ended last week at £46.24/t. The contract has fallen further this morning, now trading at £44.72/t.

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