Wholesale Gas and Electricity prices dropped back marginally on Wednesday, which was welcomed relief given the increases of the last few weeks. 

We expect the current volatility to continue for the coming couple of months.

Gas: Prices fell further yesterday amid warmer temperatures and strong wind output. This morning gas is trading up on last night’s close. Power: Power prices dropped yesterday, tracking losses in NBP contracts. Falling carbon prices added pressure to Summer 25. Power trading has opened slowly with the front month and quarter trading slightly up on last night. Oil: Front month oil is currently trading around $73/bbl. Tensions in the Middle East have once again helped buoy prices. Carbon (EU ETS): The ICE Dec-24 closed at €67.86/t yesterday. The contract is trading at €67.72/t this morning. Carbon (UKAs): The ICE Dec-24 closed yesterday at £36.31/t. The contract is currently trading very similar at £36.30/t.

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