Compared to recent days, wholesale gas and electricity prices were broadly stable on Wednesday, although we did see increases across the board.
| Gas: NBP contracts rose during yesterday’s session. Below average renewables and an unexpected outage at the Norwegian Troll field impacted supply. This morning, the market opened similar to last night’s close. Power: Most power contracts gained modest value yesterday. In the prompt, prices rose despite forecasts of strong wind generation next week. Far curve contracts were influenced by NBP volatility. Early market prices are in the same range as last night’s close. Oil: Oil prices finished the day lower yesterday. Some of the decline was prompted by a sell off driven by diplomatic breakthroughs looking to re-open the Strait of Hormuz. Carbon (EUAs): The ICE Dec-26 closed at €82.68/t last night. The contract opened this morning at €82.78/t. Carbon (UKAs): The ICE Dec-26 traded to £59.64/t yesterday. Opening this morning at £59.62/t. |
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