Centrica Announces no Further Gas Injection at Rough Until April 2018
In the Spring Energy Market Outlook we issued at the end of March, we warned businesses to be vigilant over winter 2017 prices if there was any further bad news on the position of UK’s largest gas storage facility, Rough.
Last week Centrica Storage Ltd announced that there will be no further injection at Rough until April 2018 and not July 2017 which they had previously indicated.
So, what does this mean for pricing?
Already we are seeing winter 2017 gas prices start to rise on the sentiment of higher demand, no storage, and therefore costly imports. Therefore, any business that has not secured their energy contracts from summer onwards need to seriously consider buying sooner rather than later. As winter gas prices increase, electricity prices are bound to follow.
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