Friday Energy Update 8/9/23

Unfortunately, the heatwave has not had much effect on the market, merely serving to limit increases mainly from concerns regarding on-going Australian Strikes at key LNG Terminals which began today. This will remove around 5% of Global LNG supply.

Over the last 7 days, where the Carbon Market has been Bearish, a bullish Oil market plus these strikes are causing market rebounds

We are expecting increases over this winter with decreases beginning again from Spring next year. Unfortunately, increases from here are almost inevitable once the colder weather comes through particularly if the strikes continue, due to supply pressures from increasing demand. However, it’s not just the Australian strikes there is still ongoing maintenance at key Norwegian Plants. Thankfully, European storage levels for Winter are far higher than last year which may help to limit increases.

For those that are due for renewal before April next year we would recommend looking into securing new rates now.

Get in touch

We are currently saving our clients, up to 60% on their utility bills. Please feel free to contact our Business Efficiency Team, on 01273 424904. So, we can provide you with recommendations around reducing your energy costs.

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