Energy prices update

The Government will invest a further £725 million in the Industrial Strategy Challenge Fund (ISCF) in a bid to make the UK the world’s most innovative nation by 2030, with a focus on energy efficient, safer and healthier places to live and work.

At the same time, official figures show smart meter installations rose in the third quarter this year, with 9.44 million connected in homes and businesses to date.

SSE reports continuing uncertainty over weather is the main impact on the NBP price. Forecasts for Thursday and Friday this week are unseasonably high with the system oversupplied today and looking to be the same tomorrow. This is driving prompt prices down, which is in turn influencing prices along the forward curve.

Oil prices have decreased as US data shows an increase to the stockpile for the first time in around a month. Coal is also down as Australian exports increase while Chinese import demand slows.

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