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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’s market reports show us how a mixture of varied movements was seen across UK gas and electricity price curves in last Thursday’s session, ahead of the long Easter weekend. Strong pipeline flows from Norway and via LNG injection into the system ensured that the system was slightly oversupplied from open to market close. Additionally, the short-term LNG outlook remains positive, with 10 LNG vessels scheduled to arrive in the UK before the end of April.

UK and European weather forecasts remained consistent with previous predictions, showing warmer weekend climes over the Easter period and cooler forecasts heading further into the week, furthering the bearish pressures on gas near-curve market caused by slowing industrial energy demand.

Ahead of the much-heralded OPEC meeting over the Easter weekend, commodity markets held their breath to see how any proposed output cuts would affect Brent Crude Oil prices. Consequently, gas and electricity price movements further along the curve remained somewhat muted.

The anticipated agreement on production cuts was agreed, however a sharp rise in Brent Crude was not forthcoming as the record supply cut was not ample in easing concerns regarding the market’s persistent oversupply and the bearish impacts of COVID-19’s continuing spread.

With the lockdown period for the UK expected to be extended after other European countries announced an extension, it is unknown how long the situation with COVID-19 will last.

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

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’s market report shows near curve prices came under bearish pressure from an oversupplied system on Friday, as the UK’s gas supplies recovered considerably following the previous day’s temporary pipeline flow restriction from Norway.

There have been higher temperatures over the weekend which have so far spread over into this week, helping to keep demand forecasts in check, with suggestions of stronger wind forecasts also helping to alleviate some pressure on gas-fired generation in making up the national grid’s stack.

Low market liquidity continued to impact on electricity markets, with muted trading activity ensuring wider bid/offer spreads and limited availability of longer-term contract prices in particular.

Further along the curve, prices were lifted somewhat in line with some considerable increases seen in the Brent Crude Oil price on Friday. The price has risen considerably since it was near an 18 year low at 23.36$/bl last week. Investors appeared to remain optimistic that a unified production cut plan could be put in place between Saudi Arabia, Russia and the US, lifting the commodity price back above the 30$/bl mark. EUA Carbon prices, will edging down on Friday, traded above the 18$/bl level.

As we almost come to an end of the UK’s lockdown period, there is still uncertainty as to whether or not restrictions will be lifted yet.

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