Energy Market Risk Analysis | Mid December 2016

La Panique ends; Winter slumps to £50

The French nuclear supply panic which has dominated UK and European power markets since the start of October has all but ended, with UK power prices across the remaining months of this winter slumping in the first half of December.

The bulk of the losses happened on a single day – December 5th – when France’s nuclear regulator ASN said six French nuclear plants that are currently offline for safety tests could be allowed to restart “under certain conditions” at the end of the month, alleviating supply fears across western Europe, including the UK.

Prices rebound after early Dec fall

While UK gas prices across all periods fell in early December, with warmer weather, the expected resumption of withdrawals from the Rough storage site and the approved restart of French nuclear plants helping apply the pressure – and overriding the influence of a rising oil market – by mid-December they had rebounded again.

Energy price shift between 04 December 2016 and 18 December 2016

Elec: +0.77%

Gas: +1.59%

Coal: +1.25%

Oil: -1.7%

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