Wholesale prices continued to be stable on Friday

We are hoping for some downward adjustment at retail this week, particularly on price books for single supplies rather than bespoke prices for multiple sites, but let’s see

Gas: Gas prices fell in front month and onwards contracts. With help from increased Wind generation limiting the need for gas fired demand and with steady LNG supplies and high storage.    Power:  Power prices fell in the prompt as Wind Generation continues to output 20% above average, creating a double impact of requiring less Gas for generation, further softening prices.    Crude: Oil prices finished the week lower than it began last Friday. Signs of easing tensions in the Middle East supported by the softening economies of the US and China as they both posted a decline in their relative manufacturing indexes.   Carbon (EU ETS): The ICE Dec-23 fell to €77.64/t yesterday. The contract is currently trading at €76.66/t at the time of writing.  Carbon (UKAs): The ICE Dec-23 rose to £37.69/t yesterday. The contract is currently trading at £37.29/t at the time of writing.

Wholesale prices continued to be stable on Friday

We are hoping for some downward adjustment at retail this week, particularly on price books for single supplies rather than bespoke prices for multiple sites, but let’s see