22nd Dec 2021

Last week prices continued to rise and they remain increasingly volatile. There are several factors causing this, Europe is now down to below 60% on its gas storage stock levels which is around 3% lower than last week. This means we will enter 2022 with some of the lowest levels we have seen at year end.

Nord Stream 2 continues to be a big driver with the market reacting nervously of any news. The latest being from the German regulator that it will be unlikely to go online until the last half of 2022, where the market had expected some flows early in the year.

The weather outlook appears to be for a cold start to 2022, so with prices being right at their peak this only drives the market upwards further, added to this are the possible lockdown announcements from the government. All these factors are driving the market upward.

Prices are incredibly high for contracts that are starting in the very near future. As always, Dukefield Energy are here to support you and can help provide solutions to manage the risk. However, the team are advising anyone with an imminent contract to get in touch in good time so the team can plan the best possible outcome for you. If you leave it too late then it will be hard to escape the high prices.

Watch an energy market update

A recording is available of a recent CPC and Dukefield Energy webinar. The session provides information on the market and the options you have whether you are in contract or your contract is about to end. You can watch it on CPC’s YouTube Channel and please feel free to share it with your colleagues.

Dukefield Energy are on hand if you have any questions, please don’t hesitate to get in touch. In the meantime, we would like to wish everyone the very best Christmas and a Happy New Year.