Near-term Prices Rise, Seasonal Contracts Ease
Near-term power and gas prices continue to rise, whilst seasonal contracts move lower. Government’s Industrial Strategy reveals plans to exempt more businesses from renewables costs.
There were mixed wholesale prices last week as near-term power and gas contracts increased with seasonal contracts experiencing losses after reaching multi-year highs last week. Day-ahead gas hit a fresh new ten-month high with Brent crude oil and oil prices also seeing big gains on Thursday. The government’s Industrial Strategy, which was published on Monday, showed positive signs for more energy intensive businesses. They also re-affirmed previous objectives in their Clean Growth Strategy.