Business Energy Market Brief - Sep15
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Energy Market ReportsBusiness Energy Market Brief - Sep15

Business Energy Market Brief - Sep15

Nathaniel Taylor

by Nathaniel Taylor 01 September 2015

Report Summary:

Gas and power continue to slide

Gas and power continue to slide

key-market-indicators

Seasonal gas and power contracts continued to decline in August. Drops in gas contracts, driven by falling oil prices and a comfortable supply outlook, fed through to power contracts, which were also dragged down by decreasing coal prices.

Annual October 15 gas fell 5.4% to average 42.2p/th, ending the month at 41.9p/th. High LNG supplies this month saw gas storage levels rise to 83% full. Although this is still below last year’s levels, confidence of continuing high LNG and Norwegian supplies has kept seasonal prices down.

Annual October 15 power dipped 2.6% to average £42.4/MWh, and ended the month at £42.8/MWh. With coal and gas prices remaining low, seasonal power contracts are unlikely to rise in the near future. Both annual gas and power contracts experienced their lowest prices since 2010.