UK gas prices are low due to cheaper prices to import gas from Europe, according to Inenco’s Y report.
Stuart Lea, Head of Energy Trading said this is a consequence of the lack of agreement between Greece and the Eurozone.
This turmoil in Europe has “absolutely” trashed the value of the Euro relative to sterling to the lowest levels since 2007.
He added: “A few days ago we thought that the situation was going to sort itself out and a deal will be done and now is looking more and more unlikely. There’s a referendum that has been announced the EU look as if they are starting to play hardball and we really don’t know where things are starting to go.”
Buyers should wait to see how much prices might go down, Mr Lea advised.
He added: “If I’m on a fixed price I would hold and equally if I’m on a flexible contract, again, I would be watching this market.”