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Energy efficiency is not just low-hanging fruit; it is fruit on the ground.Stephen Chu, US Secretary of Energy
Could conflicts in the Middle East put an end to falling prices?
Last week saw price decreases across the board. For gas, despite it being the tail end of the holidays, there are expectations of an oversupplied system in 2020 following a new five year trade deal with Russia and Ukraine being agreed, which will see a considerable amount of natural gas piped into Europe. This, along with poor carbon markets, has supported the overall reductions. For electricity, the gas market has continued to be a significant driver in bringing prices down. However, tensions in the Middle East with the US and Iran are beginning to drive up the prices of oil. This, coupled with the colder weather due over the coming weeks, could see an end to the improving prices we have seen for gas and electricity over the last few months.