Wholesale gas and electricity prices dropped further on Wednesday, which is good news given the sustained recent rises.

TPG expect further volatility through the winter before consistent drops during spring 2025.

Gas: Prices continued to fall yesterday as geo-politics and weather fundamentals continue to impact the market. The wider utility complex contributed to losses further out on the curve. Power: Power contracts tracked movements in the NBP market yesterday. Further out on the curve the weakening Dec 24 UKA carbon contract led to some power contracts losing value. Oil: Prices proved volatile yesterday, with the market reacting to the information coming out of the US, from inflation rises to proposed import taxes. With the front month trading around $72/bbl. Carbon (EU ETS): The ICE Dec-24 closed at €68.47/t yesterday. The contract has fallen this morning trading at €68.53/t.  Carbon (UKAs): The ICE Dec-24 dropped to £36.01/t, yesterday. At present the contract is trading higher at £36.24/t.

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