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NEW YOUR WEEKLY ENERGY MARKET REPORT Welcome back to those who have been following our weekly report and welcome to all new visitors. To follow us and to read the detailed weekly report on energy intelligence click here

This week we can see the impact of how stricter lock down measures are meaning that demand levels continue to fall as companies are now operating from home or have ceased trading until further notice, leaving offices and factories shut.

This morning’s session has seen the UK Gas system open largely oversupplied again, as the UK could look to offload surplus supply into mainland Europe. This would add further weight to prices. A Qatari LNG tanker is expected at South Hook terminal this morning and a further import of Yamal LNG volume is expect into Dragon terminal tomorrow.

Brent Crude Oil is currently trading near 18 year low as the US, the world’s biggest oil consumer, surpassed China with the most confirmed cases of coronavirus. Prices are now so low that many producers can no longer pump crude at a profit, resulting in the shutdown of fields, while storage is also rapidly filling due to the steep contango which is also expected to curb output.

The British Pound has improved against the Euro and most the world’s largest currencies over the course of the past 24 hours but has since fallen against the U.S. Dollar amidst ongoing volatility due to the coronavirus economic crisis.

Please click here to read the rest of this weeks energy market report.

Please click here to see the official EnergyAce statement regarding COVID-19.

To discuss energy saving solutions and to find out more about how you can increase savings and reduce carbon emissions, please call 01695 559785 or email post@energyace.co.uk

As the situation around Coronavirus (COVID-19) continues to evolve, EnergyAce would like to provide all our customers and partners with key information regarding our ongoing response to the outbreak.

The safety of our staff, customers and all our partners is our highest priority and we are taking the advice of Public Health England and the NHS to ensure we follow the latest guidelines.

We continue to support all essential operations and currently operating with a skeleton staff and home working to respond to all urgent orders, breakdowns and emergencies.

EnergyAce have the ability to operate the business remotely and in the coming weeks, some staff will be working from home while utilising conference calling software, client-facing meetings will be rearranged via “Microsoft Teams”, “Sype” or similar.

We recognise that many businesses rely on our support, we have great stocks of components and we will endeavour to support when needed while taking account of the latest advice.

Please do not hesitate to keep in touch although meantime please take care and keep well.

Gary, Eileen & all the team at EnergyAce

NEW YOUR WEEKLY ENERGY MARKET REPORT Welcome back to those who have been following our weekly report and welcome to all new visitors. To follow us and to read the detailed weekly report on energy intelligence click here

In this week’s energy market report, we can see that the UK’s gas system opened long on Friday morning, with healthy levels of Norwegian and European continental flows reported. More people have started to work from home in the last few weeks which means that forecasted demand levels for domestic consumers has been underestimated by National Grid. The announcement from Boris Johnson yesterday was that stricter measures are now being put in place to stop people from leaving their homes, unless it is absolutely essential.

Temperature forecasts have predicted cooler weather in the last few weeks, however there was warmer weather at the weekend which is expected to continue for the foreseeable future. High levels of renewable yesterday have aided downward movements with Wind generation currently making up 29% of the generation stack.

GBP was up against the Euro and the Dollar this morning following the UK government’s decision to lower interest rates to a 325-year low – from 0.25% to 0.1% to attempt to keep the UK economy afloat as COVID-19 continues to dampen domestic spending and economic forecasts.

Please click here to read the rest of this weeks energy market report.

Please click here to see the official EnergyAce statement regarding COVID-19.

To discuss energy saving solutions and to find out more about how you can increase savings and reduce carbon emissions, please call 01695 559785 or email post@energyace.co.uk

NEW YOUR WEEKLY ENERGY MARKET REPORT Welcome back to those who have been following our weekly report and welcome to all new visitors. To follow us and to read the detailed weekly report on energy intelligence click here

In this week’s market report, we can see that the UK System is short thus far this week as demand sits just below seasonal norms and storage send out remains low. Wind generation is strong again today making up around 24% of generation stack but electricity supply is heavily reliant on gas powered generation at 45%.

Temperature forecasts adjusted back to seasonal norms on Monday, with just a spot of warmer weather expected today, although rain is still present. The rest of the week is set to follow with seasonal norms expected.

Significant movements in Oil prices this morning have seen the commodity plunge 31% in its worst loss since 1991 amid price war concerns. Global markets have been impacted by the threat of a price war between oil exporting group OPEC and its main ally Russia.

On the back of continued global fears surrounding the Coronavirus outbreak and now significant drops in oil, investors have been selling stocks in a global markets amid the uncertainty. The Coronavirus has had a significant impact globally, with Italy being on lockdown and major sporting events being cancelled.

Please click here to read the rest of this weeks energy market report.

To discuss energy saving solutions and to find out more about how you can increase savings and reduce carbon emissions, please call 01695 559785 or email post@energyace.co.uk

NEW YOUR WEEKLY ENERGY MARKET REPORT Welcome back to those who have been following our weekly report and welcome to all new visitors. To follow us and to read the detailed weekly report on energy intelligence click here

In this week’s energy market report, we can see how milder temperatures are having an effect on the UK gas demand. Last Friday brought milder temperatures than we have seen recently and an increase in the level of wind generation, the UK system was much more balanced as gas demand reduced to the seasonal average. Norway flow remained strong at 108mcm with LNG send out just shy of 70mcm.

The decrease in demand also meant that UK Storage withdrawals fell in line to match up with it. Wind levels have increased so far this week and make up around 12% of the current generation stack with renewable sources adding up to over a quarter of the total mix.

Brent Crude Oil prices are now attempting to recoup lost ground after there were losses of c. $7/bl last week due to the Coronavirus outbreak, which continues to spread and affect trade. The prices increased by 2.75% after opening yesterday morning.

Please click here to read the rest of this weeks energy market report.

To discuss energy saving solutions and to find out more about how you can increase savings and reduce carbon emissions, please call 01695 559785 or email post@energyace.co.uk