Wholesale Energy Prices Update 4/1/2019
Mid winter weather pulls prices backAll the contracts showed minor falls on the week, but the current mild winter, combined with strong storage levels, prompted significant falls for the immediate year with the removal of further risk premium. Further out, curve prices saw minimal falls with oil bouncing back, but coal saw further declines. For the remainder of this winter, prices also fell, reflecting the delayed onset of the cold weather. With the likelihood that the Leave vote will be happening next week, Brexit will probably reimpose its influence on prices again. However, the weather and similar fundamentals will continue to be a major factor. Those who are risk-averse may consider not waiting on these outcomes as either negative weather or Brexit could raise prices. However, those comfortable with some risk may benefit if an acceptable Brexit deal is reached.
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