The wholeale market was stable on Friday but we saw a small firming of prices at retail
Gas: Gas prices strengthened across all contracts at last week’s conclusion. Near-curve contracts rose to attract more LNG cargoes after reports showed a year-on-year fall on deliveries. British Gas demand was forecast to total 202MCM, 52MCM beneath seasonal average.
Power: Power prices softened in the near curve but rose in the middle to further out curve. Wind generation in the prompt was forecast to output 10% above average. Prices in the further out curve continued to be influenced by the wider energy mix, namely oil and gas.
Crude: Oil prices rose last Friday as tensions in the Middle East escalated. Reports of air strikes across the Middle East heightened concerns surrounding oil supply disruptions. Prices are sat $5/barrel higher compared to before the conflict started.
Carbon (EU ETS): The ICE Dec-23 fell to €79.35/t last Friday. The contract is currently trading at €80.50/t at the time of writing.
Carbon (UKAs): The ICE Dec-23 continued its recent bearish run to £37.53/t last Friday. The contract is currently trading at £38.34/t at the time of writing.