Energy Market Risk Analysis | Mid May 2017

Prices curl higher after 10-day tumble

After rebounding at the start of May, Annual UK power prices chipped steadily lower, easing to their lowest level since early December amid increasing confidence over longer-term UK gas and power supplies. However by mid-month they were curling higher again, as short-term prices rallied sharply, while a rebound in oil prices lent some bullishness.

Annuals hit 7-month lows

While prices across all gas periods have ticked slightly higher over the last couple of days they remain down on where they were at the start of the month, with Month-ahead and all UK gas Annuals still close to seven-and-a-half-month lows that they reached last week.
Although longer-term prices appear to have been selectively following a tumble and rebound in the oil market, much of the sentiment in forward periods has been driven by changes in the short-term gas market.
Energy price shift between 02 May 2017 and 16 May 2017

Elec: -1.27%

Gas: -2.68%

Coal: -3.45%

Oil: +0.85%

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