Chart of the week | Will the wholesale bulls finally run out of steam?

In light of the continuing running of the bulls, this week’s Chart of the Week offers a wholesale market snapshot. It observes what has been driving recent power, gas and commodity prices. It then seeks to offer an outlook for this bullish momentum.

Though the chart shows day-ahead gas and power prices are currently towards the bottom of the yearly price range. Typically it would be expected that near-term prices would fall as demand eases throughout the summer. However, this isn’t the case this summer. At the time of writing, day-ahead power and gas prices are 42.0% and 55.5% higher than the same period last year respectively.

Joe Camish

Joe Camish

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