Your Weekly Energy Market Report 28/05/2020

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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

A soft demand/supply complex drove short-term contract prices downwards towards the back end of last week. This move was a consequence of increasing levels of wind generation, higher temperatures, higher solar generation levels and lower national demand forecasts as the country headed into a bank holiday weekend. Early signs this morning are that some price correction is taking place.

Temperatures are expected to cool somewhat and with Russian gas flows into Western Europe dropping by over 15% over the course of the weekend, some upward impetus has bolstered short term pricing.

A strengthening wider commodity mix added some bullish sentiment to prices further along the curve. Indeed, the Brent Crude Oil price is one such benchmark that has held onto previous gains. The demand picture for Oil continues to improve as global lockdown gradually eases, boosting forecasted demand levels for the commodity.

This, coupled with suggestions that OPEC+ and the US are continuing to restrict production levels effectively has improved the price outlook even further. EUA Carbon also held comfortably above the 21 Euros/tonne level, responding to gradually increasing European energy demand. Naturally, headlines remain focused on Dominic Cummings’ movements and his much debated breach of lockdown rules.

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 20/05/2020

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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

Price increases on the near curve were contained somewhat, as reports of milder weather and a healthy LNG outlook for the remainder of this month continued to suppress price movements for short term contracts. Norwegian flows into the UK remained low as the week closed, with a number of scheduled maintenance procedures going ahead on key North Sea infrastructure.

The renewables mix also remained strong on Friday and throughout the course of the weekend, with levels of solar and wind generation making up a significant portion of the National Grid’s stack.

Further along the curve, bullish sentiment took hold courtesy of a strong commodity mix. Indeed, strong gains in Brent Crude Oil fueled these increases, with Brent rising by over 7% following the release of the IEA’s forecast for global stocks, detailing a reduction of 5.5m barrels/day for the second half of this calendar year.

Pound Sterling weakened throughout Friday and over the course of the weekend.

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 13/05/2020

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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

Demand levels heading into the bank holiday weekend sat much lower than seasonal norms largely due to warmer weather, reducing heating demand. In addition, the bright conditions boost solar generation but this additional supply was offset by low wind generation.

The wider commodity mix have witnessed steady gains in recent weeks as countries eased business and social lockdowns and fuel demand has picked up modestly. Indeed, renewed optimism going into the weekend provided support for Carbon prices, which in turn added some pressure to UK Energy prices. However, Oil prices have slipped more than 1% this morning as the demand glut persists and economic fears continue as a result of the pandemic, cancelling out any support from supply cuts of the world’s largest producers.

The Pound looks on track to remain subdued over the coming weeks as the UK starts it’s long road to recovery in comparison to some other nations, with PM Boris Johnson’s announcement on Sunday that it would be in August that the majority of the economy would be open again.

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 06/05/2020

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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

Some early morning bullishness was seen during Friday’s session as the expectation of a rise in exports from the UK to Belgium forced day-ahead and month-ahead contracts upwards.

Furthermore, an expectant fall in daily LNG send out into the UK’s gas system also had a bullish impact. Throughout the course of the day bearish sentiment began to take hold, instigate a correction of some of the upside risk seen earlier on. Stronger levels of wind generation, warmer temperatures, a weakening Carbon price and a short upcoming week, all playing their part.

Forthcoming upside risk could be derived from any scheduled Norwegian pipeline maintenance during May and any alleviating of the considerable impact that economic lockdown across Europe is having on industrial energy demand.

Despite a strong end to April, analysts are forecasting a bearish month for Pound Sterling. Weakness in global stock and index markets are continuing to have an impact on the Pound’s direction, a result of the considerable reliance that the UK economy has on its banking sector. Furthermore, some strengthening trends in the US Dollar and the Euro are also playing their part.

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

Virtual Youth Zone

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Over the past month, the wonderful Wigan Youth Zone (WYZ) team have established a completely new platform to engage young people who need their support now more than ever. They’ve been overwhelmed at how well their ‘Virtual Youth Zone’ has been adopted by the young people and the feedback they have received from young people, parents and the wider community has been exceptional. These times are difficult for young people with reported increases in abuse and diminished mental health; Wigan Youth Zone is committed to doing as much as we can at this critical time.

It is with this context, that I am pleased to share with you the headlines from a very eventful and successful month as well as providing an overview of support that would be welcomed during these times if you have the capacity.
Young People

Within 72 hours of the lockdown being announced, WYZ creative and talented team launched their ‘Virtual Youth Zone’ to provide open-access and universal content for all young people and their families to engage with. Operational seven days a week, young people can engage with pre-recorded and live activities which cover a variety of programmatic zones such as cooking, music, dance, fitness, quizzes, Lego sessions, games and issues-based work. As you will see from the WYZ impact report (click here attached) the engagement has been significant.