Market Drivers – August
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.
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• EU support for industries.
• 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.
• Nord Stream 1 turbine saga continues to dominate sentiment.
• Tight supply over winter.
• Looming winter 22 period as more customers hold off placing renewals driving demand up and price with it.
• Planned & unplanned outages.
Another record high month for prices in August with the market fundamentally breaking to the point of suppliers withdrawing from the market entirely.