Wholesale Gas and Electricity prices rose on Friday due to Norwegian maintenance on gas and interconnector limits on French electricity imports.

During the Norwegian gas maintenance season, we are used to seeing volatility but the French electricity situation was just a one off.

Gas: NBP prices gained throughout Friday’s session. As Norwegian maintenance season kicks in, 71mcm/day of capacity is expected to be offline until 8 May. Uncertainty remains over US tariffs bringing market volatility. Power: Power prices gained at the culmination of last week. IFA1 interconnector with France has been curtailed by 1.95MW until 9 May, this combined with below average wind output for the week are likely to push prompt prices up. This morning, early trading is up on last night’s close. Oil: Prices fell last Friday with geopolitics and the delay of the OPEC+ meeting until yesterday bringing uncertainty. Carbon (EU ETS): The ICE Dec-25 is currently trading strong at €68.82/t this morning, after opening at €67.65/t. Carbon (UKAs): The ICE Dec-25 rebounded up to £49.63/t by Fridays close. The contract has continued its bullish run, currently trading at £50.90/t.

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