As Brits reach for winter woollies wholesale gas prices went up earlier in the week.
Sammy Blay, npower’s Client Portfolio Manager said: “Unplanned nuclear outages on the power prompt market as well as maintenance on the UK-Dutch power interconnector helped boost prompt prices whilst the onset of cooler Autumn weather helped lift the gas prompt market.”
However this was tempered by the end of the week with news that some Norwegian gas field maintenance will be completed earlier than expected.
Oil dropped $2 following a Syrian diplomatic solution by the United States and Russia, suggested the report. Turmoil in the Middle Eastern nation has been pushing up oil prices because of fears the US may launch an air strike after the recent chemical weapons attack.
Looking forward the energy market could potentially be affected by the German federal elections at the end of the week as any change in leadership could impact on the EU’s carbon credits scheme.