ESOS Newsletter
Weekly Market View – w/c 8th August, 2022
Market Drivers – July
We understand the business energy market can be challenging.
Our specialists compile a Market Drivers report each month.
We have highlighted Bearish drivers, expected to contribute to the market lowering, and Bullish drivers, expected to contribute to the market going higher.
Click here to discuss your business energy challenges.
Bearish Drivers
- Increase in UK domestic production amid return of several planned maintenances.
- Resuming of Nord Stream deliverability will sharply ease present bullish concerns around Russian supply, although a date on this is not known.
Bullish Drivers
- Nord Stream 1 turbine saga continues to dominate sentiment.
- Looming winter 22 period as more customers hold off placing renewals driving demand up and price with it.
- Planned & unplanned outages.
- Slow wind speeds.
- High gas for power demand amid warmer temperatures and lower renewables.
- Outlook for lower LNG sendout next month.
Another bullish month for July with prices rising to records levels once again.