Latest Market Updates

The energy price cap, which protects consumers from unbridled increases, is still set to rise from £2,500 to £3,000 in April. Tony Jordan, senior partner at energy consultancy Auxilione said: ‘Unfortunately, we’re not going to get all the benefit for the current price until the price cap decision in July.

DAILY MARKET REPORT – 17/02/2023 A bearish session yesterday, removing the gains seen from Wednesdays session, once again maintaining an area of comfort the market seems to have found of late. A warm week ahead is expected before dipping below seasonal normal as we close out February, and the latest…

Tony Jordan, senior partner at energy consultancy Auxilione, has said the Competition and Markets Authority would be ready to step in if they saw any evidence of British Gas getting a preferential deal. “There are ‘glass walls’ around the supply of energy” says Jordan. “Centrica can’t trade…

DAILY MARKET REPORT – 16/02/2023 An upwards move across the board yesterday as the end of winter became that little bit further away. A move once again in temperature forecasts to show an earlier cold spell to be expected next week, rather than in March, will have helped push up…

“I imagine households will be a lot more savvy about looking for the best deal now,” said Tony Jordan, a consultant at Auxilione. “In the back of their minds, they may still have worries about company collapses and stability.” To read the full story, click here.

DAILY MARKET REPORT – 15/02/2023 A fairly level day yesterday with little movement in either direction on the lack of any significant influential news. National Grid last night confirmed the Capacity Market auctions for 2023/24 cleared at £60/kwh/year, down from last years high of £75, procuring 5.78GW. Attention around the…

DAILY MARKET REPORT – 14/02/2023 A bearish session to start the week as temperatures for the rest of February are expected to stay above seasonal normal, negating the need for aggressive storage usage which remain two-thirds full – a long term high for this time of year. China National…

DAILY MARKET REPORT – 13/02/2023 The market closed in bullish mode on Friday, but once again retained its recent trading envelope which has been maintained for 2023 so far. This comes as the colder temperatures pass and warmer than seasonal normal levels are expected for the next ten days or…

DAILY MARKET REPORT – 10/02/2023 Further downward movement from yesterdays session, albeit rather small, to stay within and around the envelope we’ve seen these past few weeks. LNG prices for Europe appear to have found their way under the Asian marker which should help with continued cargoes heading this way. This…