Energy market update 15/8/16

UK prices – The table and graph below shows the forward annual gas and electricity pricing.

Forward annual gas and electricity pricing. Oil prices initially continued to drift down, offsetting the falling pound and further negative economic sentiment. However, oil prices jumped on Thursday on news of another OPEC conference to address global supply and a forecast from the IEA of tightening global margins for the remainder of the year. Brent closed the week 6% up at $46.94 a barrel. Last years energy prices

UK prices

In the UK, with the gas system long for most of the week and warmer weather forecast, prices initi ally fell. They picked back up on rising oil and a Norwegian gas platform extending its planned outage twice. Higher coal prices and a nuclear unit going off line pressured short term electricity contracts with solar output also dropping. Shorter dated contracts increased in value over the week with longer dated contracts all falling again.

Published by Utility Helpline on (modified )