Weekly Energy Market Review – 13th-17th September
Power
The fire at the IFA Interconnector in Kent has had a significant impact on energy prices which soared throughout the week, hitting record highs. A number of suppliers are expected go bust as a result of this severe market volatility.
Gas
A fire at one of the UK’s most important interconnections, bringing in supply via France has resulted in what some are calling an energy crisis. Many industries are already feeling the impact and prices continue to rocket to ten-year highs.
Commodities
Oil remains relatively stable, in stark contrast to UK energy markets as global fundamentals are largely unchanged, with little to force the price of Brent Crude in either direction. The US Dollar remains relatively weak, offering some support.