On Wednesday wholesale Gas and Electricity prices were stabile with no visible movement as a result of the failure of the Ukraine peace talks.
| Gas: Most contracts were relatively static yesterday. Prices were pressured by wind and temperature forecasts with both expected above seasonal norm over the next fortnight. Helping to limit any losses, the Norwegian Troll field has been offline, removing 8mcm capacity. It’s expected back 5 December. Power: Power prices were mixed yesterday. The day ahead and week 50/51 contracts traded downwards amid some bearish weather fundamentals. Gains in the benchmark UKA Dec26 contract supported upwards movements in the W26 contract. Early trading this morning is down on last night’s close. Oil: Oil settled with a slight gain yesterday, Brent Crude closing c.$62.70/bbl. Ongoing attacks on Russian energy facilities brought bullishness to the market, however fears of oversupply capped gains. Carbon (EU ETS): The ICE Dec-25 fell to €81.79/t yesterday. The contract opened today at €81.47/t. Carbon (UKAs): The ICE Dec-25 closed at £56.57/t yesterday. Opening this morning at the same price. |
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