There were very modest increases in wholesale Gas and Electricity prices on Friday, with near-term contracts through Winter ’24 taking the bulk of the increases.

Gas: Gas prices increased at the end of last week following a decline in wind generation causing an increase in gas for power demand. The outage at Norway’s Kollsnes refinery also supported prices.   Power: Power prices were mixed at the end of last week. Unplanned outage at the UK-France interconnector saw prices rise in the day ahead with additional support from the outages in the gas market.   Oil: Oil prices fell at the end of last week as the markets are focused on the weakening demand predictions from the US and China.   Carbon (EU ETS): The ICE Dec-24 slightly rebounded to €66.50/t at the conclusion of last week. The contract is currently trading at €66.12/t this morning.   Carbon (UKAs): The ICE Dec-24 fell slightly to £41.75/t last Friday. The contract is currently trading at the same level this morning.

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