Carbon Prices Hit Highest Since 2011
EU ETS carbon hit six-and-a-half year highs. BEIS statistics revealed over half of electricity generated in UK in 2017 came from low-carbon sources.
Last week we saw all near-term power and gas contracts decrease while seasonal contracts reached fresh multi-year highs. These seasonal contracts were mainly driven higher by rising gas prices. Power prices were supported by the continued increase in EU ETS carbon prices which reached their highest price since June 2011. Moving away from the wholesale market, BEIS statistics showed that over half of electricity generated in the UK in 2017 came from low-carbon sources. This is a very promising statistic for the UK’s electricity generation mix.