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Energy Markets soar in price once again - 06-10-2021

The markets soared in value in an unbelievable fashion yesterday, following on from two French reactor outages, along with the German court ruling on Nord Stream 2, casting doubt on its operation this Winter. This has driven a buying frenzy in the market, with 12 month gas prices up 17% in a day.  

Prices are moving higher today, at an unprecedented rate at market opening, with gas day ahead price hitting 341p/therm. Significantly less wind generation in Germany has squeezed European supply. It is likely suppliers will pull and suspend pricing today, until market conditions settle.