Energy Snap Shot - colder weather and a drop in the value of Sterling can't stop the slide
A mixed week with Sterlings fall on Brexit talks, colder weather for March and improving renewable generation
Sorry for the delay to last week's summary update, yet again we have had movement in both directions last week. Starting with an oversupply situation last weekend dropping energy prices on Monday. However with parliament paving the way for the Prime Minster, Theresa May to start talks with the EU over Brexit we saw Sterling fall to levels not seen since mid January - not great for my upcoming holiday and not good for energy prices which rose on Tuesday.
We also saw some colder weather forecast for the end of March and clearly the wind will be dropping too as wind power generation is also forecast to drop. However despite the colder, stiller weather the end of the week saw prices fall again mostly due to reduced electrical demand and enhanced renewable generation.
Just a final note, if anybody would like us to look at WATER, please do get in touch. The water market's deregulation is just around the corner and savings can be had from the outset.