Energy markets have softened as we move into December. Falling gas prices, strong renewable generation, and rising supply have helped offset short-term demand spikes, easing pressure across forward markets.
Forward power prices dropped to multi-month lows as improved weather forecasts and nuclear availability eased supply concerns.
Wind generation surged in late November, at times pushing UK short-term prices below those in Norway and reducing net imports.
Lower gas prices helped ease the costs associated with gas-fired power generation.
UK gas prices slumped in late November, driven by strong LNG supply, above-average temperature forecasts, and a soft Asian LNG market.
Positive sentiment surrounding peace negotiations between Russia and Ukraine eased geopolitical pressure on prices, though talks are still ongoing.
EU Gas storage withdrawals have sped up amidst heightened demand, but stable and strong supply has offset market concerns
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