Utility Market Report July 2016

Market Insight and News

NBP & UK Power prices ended the month of June in very volatile fashion after the UK voted to leave the European Union. As with many political decisions, this particular decision led to major uncertainty in global markets which in turn had a direct impact on energy Contracts.

As a result, the net impact on the energy market saw gains throughout the end of June with the market finishing significantly higher than the start of the month. Whilst the global markets have stabilised recently, there is still uncertainty on how the triggering of Article 50 will impact the UK markets further. This market uncertainty and the devaluing of the pound have also led to the increase in market prices over the few weeks.

Current Oil Prices

 ICE Brent Sept-16 47.64 $/bbl
 ICE Gasoil July-16 420.50 $/tonne

Utility News Highlights:

  • UK votes to leave the European Union
  • G20 urged to end fossil fuel subsidies by 2020
  • Germany bans fracking
  • UK to miss 2020 green targets
  • OFGEM plan to introduce Half-Hourly metering for everyone

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