26th April 2024 Energy Price Alert – UK Gas & UK Electricity

Wholesale Gas and Electricity prices rose on Thursday, due to renewed GO political concerns, although we feel that traders have over played this position.

On the generation front, prices rose as wind and solar generation dropped back from the heights seen the previous week and the price last week was £63.59.

At the Retail level, we have seen some increase in prices but this has not mirrored the movements in the Wholesale market as yet. For the right credit and sector opportunities, prices are still available below 20p/kWh for Electricity and below 6p/kWh for Gas.
Gas: Gas prices rose yesterday as higher prompt demand and geopolitical risks weighed on the system.

Power: Power prices rose yesterday, continuing to closely follow the gas market.

Oil: Oil prices rose yesterday, reversing some of the losses made in Wednesday’s session.

Carbon (EU ETS): The ICE Dec-24 rose to €67.00/t yesterday. 

Carbon (UKAs): The ICE Dec-24 closed lower at £36.4/t yesterday. It’s at a similar level this morning.

#gas #electricity #businessutilities #businessgas #businesselectricity

The Procurement Group

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