What impact has Boris’ announcement yesterday had on the UK energy markets and pricing?

In summary;

• In the build up to the announcement we saw prices drop slightly, mostly in anticipation that any significant industry shut down could cut demand levels.
• Despite the new measures restricting the hospitality industry and some office working, the impact to heavy consumption factories is limited.
• On the whole national demand levels will remain fairly consistent with the new restrictions, so had little impact to the energy prices.

At present we don’t believe prices will move lower until significant developments occur, our understanding is that we will continue on the current uptrend but that price will become quiet volatile in the coming months.

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