5th September 2024 Energy Price Alert – UK Gas & UK Electricity
Wholesale Gas and Electricity prices saw significant falls on Wednesday, with Winter ’24 Electricity now sitting below £86/MWh which is far closer to the £80/MWh that we saw earlier in the year.
As a result of this now is a good time to lock-in contracts expiring at the end of September.
Gas: NBP prices continued to fall yesterday with an over supplied grid and increased wind generation weighing upon contracts.
Power: Power prices fell yesterday tracking their NBP counterparts. Losses in benchmark UKA contracts softened prices further out on the curve.
Oil: The brent front month dropped to its lowest price of the year yesterday as OPEC supplies increased amid Chinese demand concerns.
Carbon (EU ETS): The ICE Dec-24 closed at €67.00/t yesterday. The contract is currently trading at €66.65/t.
Carbon (UKAs): The ICE Dec-24 fell to £41.77/t yesterday. The contract is currently trading at £41.65/t this morning.
