With many businesses being forced to close their doors due to the impact of the Coronavirus many suppliers are changing both their terms and conditions and credit criteria on an ongoing basis.
Most World financial markets saw huge downward swings in March due to the rising numbers of Coronavirus with many Governments invoking lockdown measures to try and protect and reduce the ongoing pandemic.
Oil in particular saw huge falls with OPEC, Russia and the US all refusing to collaborate on a reduction in supply into a much reduced demand system.
The end of the year saw forward price curves prices for power fell to the lowest levels seen since 2018 due to a combination of mild weather, falling gas and EU carbon prices. The signing of a new Russia – Ukraine gas transportation agreement also put pressure on electricity prices.
On the 9th December for the first time in history, the UK experienced a negative day ahead trading prices for 03:00AM to 04:00AM delivery on the hourly day-ahead auction dropping to -£2.84/MWh.
All forward curves on the wholesale energy November 2018 markets fell throughout the month from a November contract starting point of £64/MWh to finish on £59/MWh with a monthly low annual forward curve price of £56.