Market Insight and News
The UK energy markets remained volatile through the month of January as the UK saw an expected winter fall in temperatures, which increased pressure on supply and demand especially within the gas market.
On average NBP prices finished the month up on where they began with Day-Ahead prices showing the largest increases as a cold snap took control of the market. This cold snap coupled with supply concerns across Europe also impacted the Day-Ahead electricity prices as they pushed up through the middle of January. Whilst on average the electricity market also finished the month up on where it started, the impact was less significant than on NBP prices as generation from other resources helped ease supply and demand issues, as well as the impact from increasing gas prices. February has already seen increased volatility, especially on the NBP Day-ahead prices as lower temperatures continue to grip the UK. February has also seen the capacity market auction take place with initial results seeing most of the benefit gained for gas and coal-fired electricity generation.
Current Oil Prices
|ICE Brent||April-17||55.52 $/bbl|
|ICE Gasoil||March-17||490.25 $/tonne|
Utility News Highlights:
- OFWAT consultation on TPI code of practice for water
- UK capacity auction yields benefits for coal and gas-fired electricity generation
- Smart Meter rollout could cost £1bn more than government estimates.
- Project Nexus sees gas industry data systems updated in May & June