|Market Close||Market Close|
|A strong fall of the Pound against the Euro saw NBP ICE July 2016 prices increase by 0.24p/th. Far curve prices were slightly down but will likely respond to the OPEC meeting being held today.||An increase in solar generation over the next few days as well as an increase in nuclear capacities in Germany pushed spot prices down yesterday. A strike in France is expected to push demand down and improving supply conditions should have a bullish effect on the curve.|
|Market Open||Market Open|
|Bullish sentiment was short lived this morning as tight Norwegian flows and a fall in LNG output pushed the prices up. Temperatures are below the seasonal norm, pushing up demand.||A strengthening oil price has given the power curve further support today. The recent ECB announcement that interest rates will be held seems to have had a bullish effect on the curve. Similar to gas, the below the seasonal norm temperatures are adding further support.|
Oil trades at £49.92/b, an increase of $0.58/b at the time of writing. A trend we have seen for a number of weeks now. The markets are yet to react to the OPEC meeting taking place in Vienna today.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & electricity increased - closing at 36.70ppt and £38.92/MWh, respectively.
|Click to enlarge graph|