On Monday electricity prices dropped marginally, while gas prices continued to rise
| Gas: NBP prices seen gains throughout yesterday, on the prompt these were largely due to low wind output and high gas demand. Yesterday afternoon there was a period where the grid was 9mcm short which applied pressure on price. Norwegian nominations were strong meaning any significant rise was kept in check. Three LNG cargo are expected to dock on UK shores by the end of October. Power: Near term prices seen losses yesterday, as higher than forecast wind expectations counteracted strong NBP movements. Generation from Torness Nuclear reactor 1 is expected to ramp up from tomorrow following a planned outage. Crude: Prices remained bearish yesterday, as diplomatic efforts to ease the middle east conflict continued. There is fear any escalation to events in the region will only lead to rising oil prices. Yesterday the Crude benchmark month rolled to December. Carbon (EU ETS): The ICE Dec-23 closed at €80.50/t yesterday. Opening at €80.33/t the contract is currently trading at €81/t flat. Carbon (UKAs): The ICE Dec-23 fell to £41.47/t at last nights close. Opening similar this morning, the contract is trading at £41.79/t at the time of writing. |
