Wholesale gas and electricity prices continued to drop on Wednesday, with more pronounced drops in the nearer term.
| Gas: After a relatively strong day supported by Norwegian outages, prompt contracts were pressured towards the end of trading with forecasts of a long system. Easington imports from Norway increased to 19.1mcm (10%) yesterday. Power: Power prices were bearish on the prompt yesterday tracking movements in NBP contracts. Strong solar generation, yesterday, added further pressure. Further out on the curve, falling carbon contracts have the potential to impact Winter 25 power prices. Carbon (EU ETS): The ICE Dec-25 closed at €72.07/t yesterday. The contract opened at €72.92/t this morning and is currently trading at €72.66/t. Carbon (UKAs): The ICE Dec-25 finished trading at £51.72/t yesterday. Opening this morning at £52.09/t , it is currently trading at £51.89/t just now. |
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