Energy Market Review – 7th-11th February 2022
Power

Power prices continue to follow the gas market closely, with the Russian/ Ukrainian situation deciding the fortunes of European energy markets. Meanwhile, Ofgem’s lifting of the energy in April is adding to the volatility.
Week Starting Price (Year-Ahead): £190.19/MWh
Week Ending Price (Year-Ahead): £185.57/MWh

Gas

Gas prices continue to record strong gains and reach new record highs as tensions between Russia and Ukraine are still dominating the news, with a Russian invasion rumoured to be on the cards, impacting the transit of gas into Europe.
Week Starting Price (Year-Ahead): 193.98ppt
Week Ending Price (Year-Ahead): 178.31ppt

Commodities

Oil prices remain bullish, with Brent Crude continuing to trade above $90/b, with many analysts expecting the commodity to break the $100/b level in the coming months. Elsewhere, Carbon markets have hit new record highs.
Brent Crude Week Starting Price: $92.34/b
Brent Crude Week Ending Price: $91.84/b
