Worries regarding Winter Supply

We ended last week’s market update with the sense that there was volatility and bullishness to come across the Market; that proved to be entirely correct as Offers surged during the week in an extremely volatile couple of trading sessions.

Electricity Market

Worries regarding Winter Supply have been around since April/May however we are now staring down the barrel of Winter with temperatures set to drop considerably into next week; therefore this week’s Russian Gas Auction was of particular interest to markets. The monthly gas transmission capacity auction on Monday revealed no additional capacity bookings into Western Europe, a considerable blow to supply which resulted in a near 6% rise on December delivery offers.

Gas prices increased further and strongly throughout Tuesday with December delivery offers increasing by over 17%, supported by the German Energy Regulator (Bundesnetzagentur) to suspend the procedure to certify Nord Stream 2 AG as an independent transmission operator, which brings increased uncertainty over when the pipeline will begin commercial operations, with some now speculating that the pipeline may not be operational until March/April 2022 if approved by the EU Commission.

Gas Market

Since Wednesday the volatility has lessened with markets now looking for a clear direction of travel. Asian LNG Prices have seen some eye-watering increases this week, with a 25% increase, which could attract much needed European Cargos to re-route to Asia; that being said there are 10 deliveries into North West Europe scheduled in the coming days with a regas volume of 1065mcm.

Power prices tracked the bullishness of Gas Markets, with some significant increases across the curve, with the January 22 delivery posting an eye-watering increase of £27.25/mWh increase on Tuesday alone. So far this week the Winter Electricity Prices have been incredibly bullish with the following applying:

Dec 21: +48.30£/mWh (+181.63 since this time last year)

Jan 22: +46.24£/mWh (+201.21 since this time last year)

Feb 22: +57.36£/mWh (+190.65 since this time last year)

Carbon Markets

Additional pressure is being felt on Carbon Markets, where it is a case of another day – another all time high, as the wider energy complex pushes offers higher and higher. It could be argued that Dec 21 EUA’s are slightly overbought, however there does seem to be a growing sense that offers could climb over the €70/t threshold and even touch €75/t by the end of this year; which is staggering considering that at this point last year Dec 21 EUA’s were trading around €20-25/t.

Cold Blast Expected

With temperatures set to drop considerably next week we are likely to see markets head in a bullish direction, with keen eyes focusing on Russian and Norwegian spot flows with both being stable yesterday and today after what was a shaky start to the week especially on the Norwegian side, with supply still impacted by the unplanned outages at the Karsto gas processing plant and the Sleipner and Oseberg fields.

Oil Prices

Oil Prices have fallen, but remain high and there is a sense that this dip is only temporary, indeed the US and China have openly discussed utilising their vast Strategic Oil Reserves to cool markets; but there seems to be little support from other countries with Japan and South Korea declining the invitation from President Biden. As things stand, markets look to be heading in the upward direction in the short term with little or no help on the horizon.

#energy

Free unlimited power from the sun! #solar

Get Solutions UK Ltd has successfully installed 42 solar panels at Sundown Adventureland as part of The Energy Revolution™.

The solar panels will primarily charge the battery storage system within the energy centre to provide instant power and will compliment the G-GEN™ generation equipment.

Read more: https://www.theenergyrevolution.co.uk  

#solar

We are proud to announce that one of our members of staff, Stacey, completed ten 10K runs in ten consecutive days to raise money for her charity CRASAC (Coventry Rape and Sexual Abuse Centre).

Stacey started her first 10K run on Thursday 21st October and then ran an additional 10K every day until Saturday 30th October. She then joined a team of forty runners taking part in CRASAC’s 40th-anniversary fundraising run as part of the Coventry 5K on Sunday 31st October to complete her amazing challenge.

CRASAC is a rape crisis centre that provides specialist helpline, counselling and advocacy support services to all those who have been affected by rape or sexual violence at any time in their lives. The charity aims to address the trauma and injustice of abuse by giving victims and survivors a voice.

Natalie Thompson CEO of CRASAC says:

“A huge thanks to Stacey for her commitment and dedication by taking on this challenge for CRASAC. For survivors like Stacey and all our clients, it’s a difficult and painful journey. I hope the support that organisations such as ours offer can provide the help needed on their path to recovery.”

In addition to completing this amazing feat, Stacey has also managed to raise over £3,600 for the charity so far and would love to raise as much money as possible to show her appreciation for everything the charity has done and for the support they continue to provide for so many survivors.

Stacey’s fundraising page can be found at Stacey’s 10x10K run for CRASAC 

Everyone at GET Solutions would like to congratulate Stacey on her remarkable achievement for charity!

Listen to Stacey’s radio interview from BBC Sounds Coventry & Warwickshire:

GET Solutions welcomes Victor Levison into our successful and growing team.

Victor joins our successful GET team as Head of Procurement and Risk Strategy following a prosperous 17 year career at Total Energies. Victor has gained invaluable experience during his time at Total in the mid-market consultancy team, SME team and also the Major Business Team.   

“Having worked closely with Get Solutions for most of my time at Total it’s an absolute pleasure to be able to take the next steps in my career with such a great company and I am proud to be part of the Energy Revolution™. We are here to Specialize in reducing organisations carbon emissions and energy costs with guaranteed immediate and sustainable results.

Clearly the demand for a new approach to energy has never been higher; This can be seen on any new bulletin at the moment with COP26 in full force. I’ll be working on Procurement and Risk Strategies, if you’d like to get in contact and have a chat about options in regards to your energy then please do not hesitate to get in contact.

To find out more about The Energy Revolution and how you could join contact us on telephone number 024 76630 8830 or email @ sales@getsolutions.co.uk