On Monday wholesale gas and electricity market remained volatile, albeit prices dropped slightly in the immediate term..
Like last week, the retail market is still managing to avoid drastic price changes.
| Gas: Near term prices dropped off yesterday on the back of news headlines and social media posts involving the US. Social media posts by US president Donald Trump claim that there were “detailed and constructive conversations” over the weekend between the US and Iran. Threatened strikes, on Iranian energy infrastructure, have also been pushed back by five days. Power: Power price movement followed NBP direction yesterday, with contracts trading down following a sell off. Wind output for the remainder of this week was re-forecast upwards; output is now expected to be around 20% above average. On the far curve, rising carbon prices helped push their corresponding contracts higher. Oil: Oil prices plummeted 10% yesterday following a sell-off, resulting from the five-day postponement of planned military strikes on Iranian energy infrastructure. This eased fears over a full closure of the Strait of Hormuz. Carbon (EUAs): The ICE Dec-26 rose to €69.26/t yesterday. The contract opened this morning at €68.95/t. Carbon (UKAs): The ICE Dec-26 closed at £37.90/t last night. It opened this morning at £37.81/t. |
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