Wholesale gas & electricity prices were broadly stable on Wednesday, albeit with some slight reductions. It is pleasing to have a period of stability.
| Gas: Most NBP prices dropped in value yesterday as the market remained fundamentally bearish. Ample wind generation helped stave off the need for increased gas for power demand. Power: Prices finished the day mixed yesterday. The front week contract dropped in value, pressed by strong wind output. Further out on the curve, steady movements in benchmark UKA contracts supported the front season. Oil: Prices fell yesterday with OPEC+ set to consider further production increases at their meeting, due to take place on Sunday. Inventory data is set to be released by the US this week, with stocks rising by around c.600k/bbl last week. Carbon (EU ETS): The ICE Dec-25 rose to €74.95/t yesterday. Opening slightly lower at €74.92/t this morning, the contract is currently trading at €75.15/t at time of writing. Carbon (UKAs): The ICE Dec-25 closed at £54.64/t yesterday. The contract opened at £54.97/t this morning and is currently trading at £54.94/t. |
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