Warmer temperatures to reduce demand – Y report

Gas and power demand in the UK is expected to decrease in the next few days, according to Inenco’s Y report. That would be the result of warmer temperature forecasts. […]

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By Jacqueline Echevarria

Gas and power demand in the UK is expected to decrease in the next few days, according to Inenco’s Y report.

That would be the result of warmer temperature forecasts.

Energy Trader Rebecca Hermolle said: “Last week we saw prices move higher following the rally in Brent crude oil however this week those gains have been slightly retraced and may continue going forward.

“This is due to a warmer revision of temperature forecasts which have subdued demand assumptions¬†going forward.”

 

Ms Hermolle suggests “consumers looking to purchase volume could potentially wait and see if prices do return to contract lows seen last month.”

She added: “However as prices have rallied over recent days you could look at selling some volume, if possible, back to the market and take advantage of this uptake in prices.”