Wholesale gas and electricity prices eased back on Wednesday, but not to the same level as the increases seen on Tuesday.

Gas: Prices fell back yesterday with ample LNG keeping supply steady. A forecasted rise in temperatures for next week brings them back above seasonal average, potentially limiting heating demand.    Power: Power prices fell yesterday, largely following declines in NBP contracts. Wind generation is expected to pick up next week, although still forecast c.15% below seasonal average. The 2GW IFA1 interconnector to France is set to operate at only 1.5GW until the middle of January 2026.    Oil: The front month contract finished trading down, day on day at c. $63.90/bbl yesterday. A rise in US inventories contributed to bearishness as the market weighs up potential over supply.    Carbon (EU ETS): The ICE Dec-25 closed at €81.49/t yesterday. The contract has opened lower today at €81.13/t.    Carbon (UKAs): The ICE Dec-25 finished trading at £57.35/t last night. Opening this morning at £58.1/t.

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