Energy prices continued to ease through mid-December, supported by strong renewable output, mild demand conditions, and ample gas supply, pushing several forward contracts to multi-year lows.
Forward power prices rose over the holiday period, supported by lower wind speeds and colder temperatures.
Short-term power prices climbed sharply during the cold snap before easing, reflecting weather-driven volatility in near-term markets.
Month- and Quarter-ahead power contracts also moved higher, supported by increased demand and tightening conditions during the final days of December.
UK gas prices increased as freezing conditions and higher storage withdrawals across Europe lifted regional demand.
Asian LNG prices remained relatively stable, limiting global competition for cargoes and keeping European supply well supported.
UK gas exports remained strong through December, further tightening system margins and contributing to upward market pressure.
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