Business Renewals

Wholesale Energy April 2020 End Point

Eon renewable energy

April 2020 was one of the most volatile trading sessions in living memory with wholesale energy commodities recording both record up and downswings, even resulting in a negative WTI index.  As we finish the month markets have started to stabilise with slight gains seen in day ahead prices and some overall gains in Winter 20/Summer 21 electricity markets.

Further out on Winter 21/Summer 22 electricity curves were slightly ahead of month start to finish at £43.43 and £37.79 respectively.

Far out gas markets saw modest falls with Winter 21 ending at 37.67p/therm and Summer 22 ending at 31.96p/therm.

WTI bounced back into positive territory but still remains massively down from month start at $50 to finish $15.75.  Brent saw a more stable month but still lost value from $27 to finish on $23.

Many economies are starting to loosen the lockdown restrictions with a view to slowly starting their economies again which will strengthen the balance in supply/demand.  The next month will prove important in the overall direction for the year and is likely to be very dependant on if/how any second waves of lockdowns are potentially implemented.

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