Wednesday, 19 January 2011

UK Business Gas Prices are on the rise

Colder Weather, Oil and Nuclear Reactor Outages influencing gas prices

The colder weather forecasted for this week and the rise of oil prices, are
forcing UK gas prices to go up. But strong supply from the continent and
steady LNG gas imports kept a cap on gains. Surprisingly on Monday, gas
demand forecasts were 6 percent lower than seasonal levels. Last week demand
had been 10 percent lower year on year, according to National Grid data.

According to forecasts from the Met Office temperatures will plunge this
week which will lift the demand for gas used for heating.

"We've seen a move to colder weather but it's nothing serious. There is
plenty of gas around but still plenty of buyers out there," one business gas
trader said.


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