Short-term drops on plant returns
Prices across the short-term UK power market have dropped since the start of the month, with particularly strong falls seen for August and September – as the supply outlook has improved on the back of several power stations returning from outage and fears of a European summer heatwave and associated price squeeze fading. Longer term prices are broadly stable, propped up by an oil market which has reached a price plateau over the last few days.
While Annual UK gas prices have become rangebound in recent days, largely because of a similar reduction in volatility on the oil market, short-term prices have weakened, coming off in the face of improved supplies.
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Energy Market Intelligence report – mid July 2011
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