Wholesale gas and electricity prices fell on Tuesday, mainly due to expectations of lower short-term demand and comfortable gas supplies, which reduced pressure on the market.
April- and October-start contracts also fell, reflecting the same expectations of lower demand and steady gas supplies easing market conditions in the near to medium term.
| Gas: Gas prices fell yesterday. Weather fundamentals in the prompt continued to be bearish, whilst sentiment eased as the markets reacted to the US-Iran developments. Curve prices also softened yesterday as the risk premiums weakened due to the news out of the Middle East. Power: Power prices tracked the bearish trajectory of the wider energy mix. In the prompt, temperatures are forecast to be 3°C above average over the next week, with wind generation outputting 14.8GWs/day throughout the remainder of the week. Oil: Oil prices eased yesterday, after Iran said it was prepared to take the necessary measures to reach a nuclear deal with the US. Carbon (EUAs): The ICE Dec-26 fell to €70.67/t yesterday. The contract opened this morning at €71.36/t. Carbon (UKAs): The ICE Dec-26 closed at £45.62/t yesterday. It opened higher this morning at £45.85/t. |
#gas #electricity #businessutilities #businessgas #businesselectricity