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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    Chris

    Gas prices took a sharp drop last week thanks to strong supply conditions and a fall in the price of oil, despite a planned outage at a gas terminal in Scotland. Electricity prices followed the downwards trend with additional support from high wind generation, which peaked on Tuesday generating a whopping 35% of the electricity in the UK and in turn, reduced the demand for gas and coal fired generation. More
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    Tim

    Overall, the market was fairly volatile last week due to disagreements between Saudi Arabia and the US and also further Brexit concerns. We saw a reduction in oil and carbon prices, which caused electricity prices to fall to the lowest price we’ve seen for two months. More
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    Chris

    The mild weather brought the demand for gas down which, coupled with strong winds reducing the amount of gas-powered generation needed, caused prices to fall significantly. The strong winds and stormy conditions from Storm Callum supported wind generation so much this week that it peaked at 9GW of supply on Thursday, causing prices to take a nose-dive. More
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    Chris

    Gas had some small increases last week, which wasn’t bad considering the rising oil prices. The minimised increases were supported by increased gas arriving from Scandinavia and an influx of Liquefied Natural Gas on UK shores. Electricity prices softened and were unaffected by wind generation forecasts being low and the small gas increases. More
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    Tim

    Through the colder weather caused heating demand to rise initially last week, a drop in the price of carbon, milder weather forecasts and an unexpected gas cargo arriving to the UK which all caused prices to fall. Electricity also followed suit with some significant drops supported by rising wind and solar forecasts. More
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    Tim

    Last week gas prices were impacted by an unplanned outage at a key gas field in Norway sending prices back up after the dips we had last week. Electricity also tracked upwards, due to weaker wind output forecasts. Other factors affecting the market were strong levels of volatility in oil prices due to global supply concerns and pound sterling having a poor week against the euro following unsuccessful Brexit negotiation between the UK and EU. More

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