Business Renewals

Wholesale Energy September 2018

Wholesale Prices

Crude Oil prices rose through September 2018 from a starting mark of $77 to finish the month strongly on $85, an in month increase of just over 10%. A significant amount of the justification for the increases was passed through to US sanctions on Iran with calls for an OPEC increase in production ignored.

The £/$ had a turbulent ride throughout the month mainly on the back of the ongoing Brexit negotiations. Starting the month at just under $1.29 the month closed at $1.30 with intra-month lows and highs of $1.28 and $1.32 respectively.

Energy prices aligned more towards the increases seen within the oil curve markets with most parts of the forward curve increasing. The April 2019 annual curve increased from £60/MWh to £64/MWh with longer term October 2020 curves increasing from £53/MWh to £54/MWh.

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