Top Factors and Challenges in the Energy Market for August 2019
Throughout recent weeks, the energy market has seen the usual summer maintenance programme across the UK Continental Shelf infrastructure. Climate change policies and increased competition from cheaper and cleaner power sources have produced challenging market conditions for the likes of coal.
UK Energy Targets
With the longer term UK grid targets of closing the remaining four coal-fired plants by 2025, there is already anticipation of increased pressure on gas supplies, particularly during times of high winter demand.
No Deal Brexit and Trade Wars
The recent declaration that the UK Government is prepared to leave the EU without a deal has seen the Pound Sterling fall to a new two-year low against the US dollar and a similar fall against the Euro making imports to the UK more expensive. Meanwhile the ongoing trade war between the US and China with its threat of mutual trade tariffs could signal a reduced demand for global energy in the event of an economic slowdown.
Download our August 2019 Energy Market Report
These are just a few examples of global insights which are directly effecting the energy market and in turn the money you pay for energy. Our latest energy report provides further detail on these topics and helps to explore what this can mean for your business and energy needs.
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