UK Gas Prices fall as warmer weather curbs demand

The forecast of warmer weather in the UK has resulted in UK gas Prices slipping. Day-Ahead prices are currently down 1p/therm at circa 51p/therm with temperatures in the South East if the UK likely to rise to 8-9 degrees C on Thursday and Friday.

Prices have remained within the 50-60p/therm range since Mid December when an explosion at the Baumgarten processing plant in Austria and an outage to the UK Forties pipeline system saw energy prices spike. Gas prices climbed 30% to 80p/therm and Brent oil climbed to $65/bbl.