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Gas prices expected to hit historic lows

07 May 2015

Last Friday Wholesale Day Ahead gas was trading near 2p per therm lower than it was the same day last year with prices being some of the lowest they have been year-to-date

Technical and fundamental analysis indicates that we may be at the beginning of a repeat of last year’s downwards trend and could see prices drop by 10p per therm, hitting historic lows (see chart below).

This decline has largely been driven by intense competition between suppliers, falling oil prices, a strong currency, high gas storages and a mild winter. 

Scott Harries, Energy Negotiations Manager for Carbon 2018 commented:
“Over April we saw a series of lower highs and lower lows indicating a potential downwards trend, which is great news for buyers. If you haven’t considered changing energy contracts then you really should as substantial savings could be made. I will certainly be monitoring the market over the next few months to procure the best deals around for our clients.”

The message is clear - over the coming weeks companies need to capitalise on this attractive market by securing the best rates available and not missing the boat.

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