Wholesale Gas and Electricity prices were broadly stable, all be it there was some minor downward movement.
As the situation in Ukraine settles, we expect to see further drops.
| Gas: Gas prices fell yesterday. In the prompt, the combination of rising temperatures and strong renewables suppressed demand for gas. Gas storage has been rising, up to 927mcm. Curve prices fell in response to expected strong renewable output. Power: Power prices softened yesterday as above average production from renewable sources lead to the reduced demand for fuel-fired power. Wind and solar generated 11.9GWs/day and 2.4GWs/day respectively. The power curve continued to track the losses in the gas market. Oil: Oil prices rose yesterday as President Trump planned additional tariffs on Venezuelan crude, with a 25% tariff on countries purchasing Venezuelan products starting on 2 April. Carbon (EU ETS): The ICE Dec-25 closed at €70.46/t yesterday. This morning the contract is trading slightly lower at €70.08/t. Carbon (UKAs): The ICE Dec-25 closed upwards yesterday at £46.71/t. The contract has traded softer this morning, now trading at £46.33/t. |
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