Carbon Markets :
- EUA Dec 21 contract has been bullish in the last week, with a slight drop off yesterday to €56.62/t.
- The spread between UKA and EUA has also reduced in the last week, with UKA’s uptrend not as strong in EUA.
Gas and Power :
- Fundamentals continue to remain tight as the uptrend in gas prices continues, with NBP ICE prices still in excess of 100 p/th.
- We have seen some profit taking on the front end of the gas curve but the market remains firm.
- Power prices have been supported by forecasts of higher demand on the back of rising temperatures and lower wind generation.
- On the spot market gas was supported by lower Norwegian flows that are down over 30 MCM relative last week.
