Wholesale gas and electricity prices continued to fall on Monday, with the most significant decreases in the near term and smaller decreases further out. Every price sector saw a decrease on Monday, which was welcome.
With tentative signs of peace in the Middle East, we hope that a solution can be found so that prices continue to fall during this critical renewal window.
| Gas: Gas prices fell yesterday. In the prompt, ample wind and solar output pressured prices. On the curve, the market continues to move upon geopolitics in the Middle East; news from the US that they’re holding off on further strikes eased prices slightly. Early trading this morning is up on last night’s close. Power: Power prices also fell in value during yesterday’s session. Strong renewable forecasts pressured in the prompt, whilst further out on the curve movements tracked NBP losses. Implied prices this morning are higher than last night’s settlement. Oil: Oil prices fell yesterday following a potential de-escalation between the US and Iran, with possible peace negotiations on the table. Carbon (EUAs): The ICE Dec-26 traded to €80.86/t yesterday. The contract opened this morning at €81.04/t. Carbon (UKAs): The ICE Dec-26 fell to £58.78/t yesterday, opening this morning at £59.15/t. |
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