The carbon price is picking up from a six week low, according to today’s daily market report from npower.
Tim Carter, Client Portfolio Manager at the supplier’s Optimisation Desk said: “Carbon prices have recovered slightly at the back end of last week, as buyers stepped in to lift the price from six week lows and restore optimism that supply curves would drive further gains.”
This morning carbon was trading at €6.2 per tonne.
Meanwhile the price of Brent crude oil has fallen back below $98 a barrel on “sluggish demand and ample supply”, despite comments from OPEC about tightening oil supplies.
The UK gas system or Linepack is forecast to close 14 million cubic meters (mcm) of gas short of its needs at the end of the day, said the market analyst.
He put this down partly to lower flows through the St Fergus terminal in Scotland which brings gas in from the North Sea.
Gas from the Norwegian swathe of the North Sea is being “rerouted” to the continent, he said.