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Heatwave props power market up

Close price: Cooling demand is set to remain high as UK temperatures soar once more, and this cooling demand is helping to push power prices higher in particular.

Opening price: Prices are trading higher this morning, with uncertainty surrounding winter supply still. An unplanned outage on Norwegian exports has lowered supply slightly to push DA market higher. The UK is expecting an additional LNG tanker by the end of the month, to give some bearish influence.

Temperatures across Europe remain incredibly high, as much of Southern Europe is scorched in deadly wildfires, and causing thousands of evacuations. Much of Asia has sweltered in prolonged heatwaves since Spring and countries are breaking temperature records. All of this is making the energy crisis worse with added cooling demand, as we cook the planet alive with undeniable evidence of man-made carbon emissions.