Energy Contracts and Prices

Keep up-to-date with the latest news on energy contracts and prices with updates from the GrowSave team.

 

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    Jon

    All prices continued the upward trend last week, dominated by the oil price and weakening sterling. Oil prices were pushed up following the news that the USA was to withdraw from the Iran nuclear deal and sterling weakened after the surprise decision of the Bank of England to maintain interest rates. More
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    Chris

    The summer weather last week helped the market in gas to move into oversupply and consequently, a reduction in short-term prices, with electricity obediently following suit. Longer term, however, the opposite proved true, with prices continuing to track with the oil price and the weakening pound. More
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    Tim

    The colder than expected weather last week, combined with unexpected outages in the Norwegian supply network, drove short-term prices higher. Longer term prices also increased, helped by a weakening pound sterling and upwards movement in oil. More
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    Chris

    Supplies of gas from Norway were adversely impacted by both outages in facilities and also pipelines to the UK. This put the system into undersupply kicking short-term prices upwards. Electricity managed to resist the upwards price pressure because of significant wind generation. More
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    Chris

    As temperatures return to more seasonal norms and stocks of gas return to acceptable levels, the short-term prices corrected downwards, followed by electricity. Longer term prices followed suit, helped by a 4% fall in the oil price over the week. More
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    Tim

    At the beginning of last week, prices came down slightly due to milder weather forecasts for the Easter period, which reduced the risk of another cold snap depleting the UK storage stocks. Unfortunately, by mid-week, temperatures fell a few degrees below seasonal norm, which brought back that risk and drove prices back up even higher. More

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