Wholesale gas and electricity prices were relatively stable on Thursday, although we have seen reports this morning of sharp spikes in the day ahead market.
On the generation side, prices have gone above £81/MWh driven by 32% of generation coming from fossil fuels.
At a retail level we have seen volatility with electricity pricing anywhere between 26p/KWh and sub 20p/KWh.
| Gas: Gas prices were mixed yesterday as the near curve rose whilst the further out curve fell. An expected rise in demand in the near curve due to colder weather pushed prices upwards. Power: Power prices were mixed yesterday. Day ahead prices sharply fell amid strong wind generation, peaking at 16.4GWs. Near curve prices took influence from the gas market. Unplanned outage at Hartlepool 1 has been extended. Oil: Oil prices fell yesterday following news of increasing supplies from OPEC+ and the weakening demand from China. OPEC+ now aims to reclaim its lost market share by increasing supplies and reducing its current 2.2m barrel/day production cut in December. Carbon (EU ETS): The ICE Dec-24 contract continued its recent rally and closed upwards at €66.52/t yesterday. The contract is currently trading slightly down on close at €65.9/t. Carbon (UKAs): The ICE Dec-24 fell to £37.09/t yesterday. The contract has yet to trade this morning at the time of writing. |
#gas #electricity #businessutilities #businessgas #businesselectricity
