UK front-month power prices hit multi-year highs yesterday amid concerns of tight supply and record carbon prices.
Jason Durden, Head of Energy Markets and Risk Management at Alfa Energy Group, stated to Montel News:
“[There are] continued concerns over gas storage depletion as early [winter] weather across northwest Europe has been sub-seasonal.”
He noted the January contract was also “essentially” following the French power market.
“[The French market] appears in crisis over nuclear availability in the first quarter, despite EDF looking into postponing long-term maintenance,” he said, pointing also to support from carbon prices.
The full article can be found here: Montel News