Friday Energy Update 19/1/24

The market has continued to incrementally decrease despite the raised Geo Political tensions, circumstances in the Middle East and freezing weather.

Current supply fundamentals are outweighing the instability in the Middle East. Demand also looks set to go below seasonal norms from the 22nd Jan due to forecasts of milder and windier conditions.

in other news

Norway have now been awarded 62 Gas licences (up from 47 last year). This will allow for exploration near to existing fields across their continental shelf.

They deliver around 65% of the UK’s supply needs currently and have been key in replacing supplies lost from the Russian/Ukraine circumstances and the Nordstream pipeline, to European Markets.

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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