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News | Lykerlor Business Solutions


October 3rd 2019

Electricity Report

UK power contracts lost value at the start of the week and have continued trading lower in price, pressured by the weaker trading within the wider energy complex.

Currently, renewables make up almost a 1/3 of the generation stack which also contributed to the lower contract prices. However, Hurricane Lorenzo is heading across the North Atlantic and is expected to hit the UK with 65mph winds and torrential rain later in the week. This could potentially lead to flash floods and power outages, which will push the contract prices up slightly.

October 3rd 2019

Gas Report

Despite gas demand being above average, contract prices have been trading lower over the last few days. This is partly due to less gas-for-power generation being needed because of the increase in wind power being produced.

The drop in temperature and uncertainty around the upcoming weather forecast because of Hurricane Lorenzo have led to gas contracts increasing slightly in price this morning.

October 3rd 2019

Brexit Energy News Report

A unanimous ruling from all eleven supreme court judges declared the proroguing of parliament for five weeks to be void, unlawful and of no effect. The UK parliament opens its doors on the 26th and 1 pound sterling momentarily gained on the dollar and the euro, lifting to 1.2487 and 1.1337 respectively, which have since dropped again.

Prime Minister Boris Johnson is to present a new Brexit deal to the EU ‘within days’ and with Brexit still scheduled for the 31st October, trading in the upcoming weeks could be volatile for the stock market. Getting an energy price locked in now can guarantee your contracts will not be affected by any implications or price rises related to Brexit.