UK Gas Falls 0.72%, Dutch TTF Drops 1.19%; EU Carbon Permits Rise 1.44%

The divergent moves are the story: gas benchmarks eased while EU carbon allowances firmed, a combination that points to carbon costs doing more of the work in European power economics than fuel prices on the day. That matters most for utilities and industrials whose hedging and generation margins hinge on the spread between TTF and EUA pricing. Whether the carbon-gas decoupling persists across sessions is the open question.