Energy Market Update
Gas and Electricity prices continue to fall
Gas prices down 12% in February
• UK gas prices continued to drop in February, driven by milder weather conditions in Europe and fears around coronavirus.
• Export capacity of Liquefied Natural Gas has increased in US over the Winter, which has resulted in lower gas prices.
Electricity prices fell by 7% in February
• Electricity prices continue to follow gas prices downwards. Mild weather conditions and strong wind generation means less demand on fossil fuels, resulting in lower prices
Things to watch out for
- Wind generation is expected to start reducing, affecting electricity prices across Europe.
- Coronavirus impact spreading which could lead to greater fears of a global economic slowdown.
Despite the situation with Coronavirus we have a robust plan in place, and are still very much open for business. If you would like to secure your energy contracts now please contact us.