- Gas stocks are nearing capacity earlier than usual this year, with warm weather reducing demand.
- The 1-year forward price for commercial gas closed at 30.08ppt by May 29th.
- Power prices decreased towards the close of the month, with warm weather reducing the need for consumption and increasing the reliance on solar power.
- By May 29th, the 1-year forward price for electricity had decreased to £39.85/MWh.
- Oil prices are at their lowest in 20 years as demand increases significantly.
- Global oil demand has dropped by 2.5million barrels per day. This is the first-time demand has decreased since 2009.
- Between 2019-2025, global oil demand is forecast to grow at an annual rate of just below 1 million barrels per day.
- The demand for coal is steadily falling as it is being replaced in power generation by renewable energy sources such as wind, solar, hydro, nuclear.
- The uncertainty around the future of coal is higher than for any other fuel.