Wednesday, 12 January 2011

Business and Commercial Gas Prices Drop with Mild Weather

UK gas prices plunged to seven week lows to levels last seen before the cold
snap. Milder weather and strong supply from LNG terminals kept the market
well supplied pushing business
and commercial gas prices down.

UK Business Energy Prices Drop
On Monday gas for day ahead and February delivery fell to prices similar to
November, before we were hit by the coldest spell on record. Spot prices
fell 1.55 pence and were traded at 54.75 pence per therm, while gas for
delivery in February was traded at 55.00 per therm, 1.20 pence lower than
previous sessions.

"Weather and LNG supply are weighing on prices. Some may be going short
here with the idea that it has room for downside in the week," said a
business gas broker.

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