Weekly Energy Market Update 3/2/17
Energy prices in the UKWith oil prices providing little influence on the gas and electricity prices, the market traded on other fundamentals of supply and demand. The gas system started the week short, and with colder weather foretasted this month, short term prices increased. Although the system was long for most of the remainder of the week, gas prices climbed on weather forecasts and the sharp increases in oil. Electricity tracked coal prices, also rising on colder European temperatures and lower renewables output. Prices increased gradually over the course of the week. The main drivers were weather forecasts and the Iran sanctions. It is unclear whether the Iran sanctions will have long term consequences on the markets. Although clients may wait to see a firm market direction, risk averse energy buyers may want to stave off market volatility by securing a longer term contract today.
Published by Utility Helpline on (modified )
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