Friday Energy Update 27/10/23

The market has almost levelled off from the previous weeks surge at the start of the Israel/Palestine Conflict. 

Minimal volatility over the last 7 days with increases attributed to an unplanned Norwegian outage at their Asgard Field, concerns due to rising geopolitical tensions in the Middle East, decrease in wind generation and lower than average seasonal temperatures. Increases being muted on some days and with small decreases occurring from lower than expected demand, plentiful LNG and a bearish wider energy complex. The EUA benchmark contract continued to follow its downward trajectory on Friday for example, and posted its largest weekly loss (5.3%) since August.

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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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