Wholesale Gas and Electricity prices were broadly stable on Tuesday, following the rises of Monday. 1 year April ’25 contracts remain below £80/MWh, but there is now a little bit of a curve between 2 year and 3/4/5 year pricing.

Gas: Gas prices rose yesterday following trader uncertainty around the US election. With additional concern around the development of tropical storm ‘Rafael’ potentially impacting the LNG facility in Louisiana US Gulf coast.   Power: Power prices rose yesterday tracking bullish momentum in the UK carbon and gas markets. An unplanned 0.5MWs outage at Hartlepool has added additional bullish pressure onto the near curve.   Oil: Oil prices rose yesterday as the market awaits the result of the US election. The $USD fell to a two week low as traders remained cautious and limited potential losses, increasing buying interest for non $USD currency holders.   Carbon (EU ETS): The ICE Dec-24 fell to €64.3/t yesterday. The contract is has continued to be bearish this morning and is currently trading at €62.95/t.   Carbon (UKAs): The ICE Dec-24 rose to £38.34/t yesterday. The contract is currently trading at £38.05/t this morning.

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