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13 Jun 2017 | Filed under: Energy Updates | Tagged:

Energy Update for 13th June 2017

Last week, quite a few interesting things were happening in the markets. However, by the end of the week, prices turned out around about the same level that they started at.

At the start of the week prices were ticking up, particularly on the gas side as two LNG tankers were redirected away from Britain, and as renewable energy was particularly weak. However, demand continued to fall away and the system remained long, so prices corrected themselves and there was significant wind output on Tuesday and Wednesday, resulting in prices softening.

As the week progressed and renewable energy fell away, then the country became reliant on gas. By Friday 36% of generation was from expensive gas fired sources and as a result prices ticked back up again. Overall the longer term winter prices have been increasing primarily as a result of coal prices. Oil however has been a lot more uncertainty. Large inventories in the US having a negative effect that we see on prices. However, there’s a fair degree of geopolitical uncertainty in the Middle East with the Arab states falling out with Qatar creating some uncertainty in oil, which continues to trend downwards with the occasional recovery.

And of course we can’t not mention the hung parliament that resulted in a weakened pound to the euro, which always has a positive impact on energy prices here in the UK.

Looking forward all we can say is there’s a high degree of uncertainty around what’s happening in the fuel mix complex. Oil prices looking to be very volatile and of course the political situation here creating a fair degree of uncertainty, which may well also impact on the longer term price situation.

If you have any questions about this report, or anything else that’s going on in the energy industry, or anything that might help your business improve its efficiency and profitability then, please contact Auditel for a no obligation Strategic Cost Review

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Filed under: Telecoms
31 May 2017

Energy Update for 31st May 2017

A mixed picture of energy prices this week. In general, prices up, though a little bit of uncertainty in the short term. Last week saw a fair degree of volatility in the short term price. Firstly, the warm weather helped Read on →

Filed under: Energy Updates
23 May 2017

Energy Update for 23rd May 2017

Last week, we saw prices increase fairly consistently for the first time in about a month. This was driven in the short term by outages in Norway which reduced imports into the UK and kept the gas system short and Read on →

Filed under: Energy Updates
10 May 2017

Auditel showcase their 17th Supplier Exhibition

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Filed under: Auditel News
08 May 2017

Energy Update for 8th May 2017

Last week, prices increased initially on the back of a reduction of imports of gas from Norway, some outages at the UK Nuclear Fleet, and the cold weather continuing to keep demand high. However, this was offset a little bit Read on →

Filed under: Energy Updates
27 Apr 2017

Energy Update for 27th April 2017

In general quite a quiet week last week. Prices in the short term increasing a little bit. Further out along the curve though, prices falling away. The main driver for gas prices at the beginning of the week was as Read on →

Filed under: Energy Updates
10 Apr 2017

Energy Update for 10th April 2017

Last week we saw prices increasing again slightly. Primarily driven by the gas system going short, despite the nice weather. Temperatures were quite cool, so demand increased a little bit and we also saw exports to Europe keeping the system Read on →

Filed under: Energy Updates
03 Apr 2017

Energy Update for 3rd April 2017

Last week saw prices increasing across the board for the first time in some time. In the short term, there was some volatility as the gas system fluctuated from between being a long and short, and also due to some Read on →

Filed under: Energy Updates