27th June 2024 Energy Price Alert – UK Gas & UK Electricity

Wholesale Gas and Electricity prices dropped further on Wednesday, although the recent wholesale changes have had limited impact at a retail level.

Gas: Gas prices fell yesterday, with an increase in wind generation leading to less demand for gas-fired generation. This led to the linepack being oversupplied.
Power: Power prices fell yesterday following a strong wind output of 9.6GWs in the prompt. Further out prices felt the bearish pressure of declining carbon prices.
Oil: Oil prices fell yesterday after bearish data from the EIA showed a build-up of crude inventories.
Carbon (EU ETS): The ICE Dec-24 returned to declines yesterday and fell to €66.93/t. The contract is currently trading at €66.96/t.
Carbon (UKAs): The ICE Dec-24 fell to £45.98/t. The contract is currently trading at £46.10/t.

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