Innovative Energy Consultancy Ltd
Innovative Energy Consultancy Ltd

July Markets Update

Gas

  • Market close data on 30th June revealed that the 1-year forward price for commercial gas closed at 32.75ppt, a rise from last month which saw it closing at 30.08ppt.
  • LNG prices increased towards the end of June, as a major gas producer in the US filed for bankruptcy.
  • Globally, all major gas markets are experiencing falls in demand resulting from mild winters worldwide.
Graph of July's Gas prices

Power

  • Commercial electricity is up from last month, with the 1-year forward price closing at £43.90/MWh on 30th June.
  • Weaker renewables and cooler weather continue to increase power demand in the UK.
Graph of July's electricity prices

Oil

  • The oil market is currently caught in a stalemate between production cuts and concerns regarding the Coronavirus.
  • The latest Bloomberg report showed that US crude inventories were down by 0.8 million barrels in the last week of June.

Coal

  • As of 10th June, Great Britain had gone two months without coal generation, leaving the future of coal uncertain.