Energy market summary

This week's latest on the UK & EU gas, UK power & renewables and the oil & carbon markets which has been provided by PPAYA. Carter Jonas partner with PPAYA to provide every brokerage services including export PPAs.

Weather

The UK is currently experiencing cooler temperatures and high wind speeds, with long range forecasts expecting temperatures to fall below the seasonal average for the upcoming weeks.

UK Gas

The UK front-month gas is trading at 76.4p/th, while Winter24 and Summer25 are at 94p/th and 88.1p/th, respectively. Prices have seen a further uptick since Friday following developments in the Middle East over the weekend.

EU Gas

The TTF Day-Ahead is trading at €30.5, marking a 0.7% decrease since Friday's market close. EU gas storage injections are progressing steadily ahead of winter, currently sitting at around 61.7% capacity.

UK Power & Renewables

The UK front-month power is trading at £65/MWh, while Winter24 and Summer25 are at £84.2/MWh and £76/MWh, respectively. Wind power generation is expected to rise well above seasonal normal this week, reaching peaks of 17.5 GW.

Oil & Carbon

Crude oil is trading at $90.45/bbl, falling slightly on Monday as the U.S. works to ease tensions in the Middle East after Iran's drone strike on Israel over the weekend. EUAs are trading at €71.55/t, while UK carbon credits are at £38.1/t.