Wholesale Energy Prices Update 18/1/2019
Winter chill pushes all contracts upThere were steep climbs across all contracts last week as the cold weather took hold and there were rises in oil, carbon and coal. The weather was the dominant driver for short-term pricing, although this seemed to ease by the end of the week. Longer-term contracts for oil and coal rose. Despite last week's 'Brexit effect' being negligible, there is upward movement in sterling which could gain momentum once it becomes clear in what direction plans will go.The weather will always be a significant factor in winter so those looking to play it safe should not hold out for news as either weather or Brexit could push prices up. However, those happy with the risk might want to wait it out and see if there is a deal reached.
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