Energy Market Risk Analysis| Early JuLy 2016

Brexit bounce

Forward UK power and gas prices rallied sharply after the Brexit vote sent the pound tumbling against other currencies, increasing gas import costs ─ overriding any influence from oil, coal, emissions and other energy markets – which all initially slumped on the news.

Brexit, Rough and Groningen bolster

While Brexit has been a key driver of UK gas prices over the last fortnight, with levels pushed up after the “leave” vote ─ as the pound plunged, increasing the cost of importing gas ─ there have also been several other factors helping to drive prices higher.

Energy price shift between 19 June 2016 and 03 July 2016

Elec: +5.14%

Gas: +6.1%

Coal: +8.33%

Oil: +0.08%

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