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From: "Stuart Baikie" <marketing@fidelity-group.co.uk>
To: "Bob Home" <bob@sarahharvey.com>
Subject: Energy market update from Fidelity Group
Date: Thu, 4 Sep 2025 09:33:32 +0100
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Good morning,
Please find below your weekly business energy update, beginning with our
summary recommendation.
Summary: Over the past week UK wholesale gas and electricity prices were
relatively range-bound. Early-week supply concerns (notably planned
Norwegian maintenance) had pushed prices higher, but by week’s end ample
global supplies and mild demand eased the market. For example, abundant LNG
inflows and very high wind output largely offset the impact of the Norwegian
outages.
By Friday gas futures were roughly flat to modestly lower, and power prices
were slightly down as strong renewables and stable interconnector imports
balanced earlier tightness.
Our recommendation: For those with contracts ending in the next 12 months,
it’s a good time to review your rates to take advantage of possible
savings and shield your business from volatility in the latter part of the
year.
If you are looking to review your energy prices, please call us today and
speak to your account manager. With access to a huge range of leading energy
suppliers we can make considerable savings on your energy bills.
<tel:08008406800> Just call 0800 840 6800
<https://stratus.campaign-image.eu/images/232114000003081004_zc_v1_1751963039900_artboard_17.png>
What’s happening in the electricity market?
UK wholesale electricity prices ended the week slightly lower, despite early
gains driven by reduced nuclear availability and lighter wind. As the week
progressed, record wind generation (peaking near 18 GW) and strong solar
output pushed spot prices down, displacing gas-fired generation. Stable
interconnector imports and improving nuclear availability further eased
market pressure.
Key drivers:
* Record wind output over the weekend and strong solar contribution lowered
spot prices.
* Early-week nuclear outages tightened supply but are now winding down,
easing forward risk.
* Carbon and coal costs edged higher but had minimal impact relative to
renewables-driven dynamics.
* Overall demand remained seasonal, with renewables dominating price
direction.
<https://stratus.campaign-image.eu/images/232114000003081004_zc_v1_1751530908414_artboard_18_(2).png>
What’s happening in the gas market?
Gas prices were range-bound over the week, with an early rally on news of
planned Norwegian maintenance and ongoing geopolitical tensions offset by
ample LNG inflows and mild demand. By week’s end, prices settled flat to
slightly lower as healthy storage levels and strong renewables reduced
gas-for-power demand.
Key drivers:
* High wind output and mild weather sharply cut gas burn for power.
* European gas storage sits around 76% full, providing a strong buffer
against price spikes.
* Geopolitical risks (e.g., attacks on Ukrainian/Russian infrastructure)
kept a modest premium in the market but were offset by steady LNG arrivals.
* Early supply concerns from Norwegian maintenance faded as ample global
supply reassured traders.
<mailto:marketingleads@fidelity-group.co.uk?subject=Contact%20me%20for%20a%20free%20energy%20review>
Contact us for a free energy review
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Our mailing address is:
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style=3D"font-size: 11pt;">Good morning, </font></span><div><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;"><br></font></span></div><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">Please find below your weekly =
business energy update, beginning with our summary =
recommendation. </font></span></div><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: =
11pt;"><br></font></span></div><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;"><b>Summary:</b>
Over the past week UK wholesale gas and electricity prices were =
relatively range-bound. Early-week supply concerns (notably planned =
Norwegian maintenance) had pushed prices higher, but by week’s end =
ample global supplies and mild demand eased the market. For example, =
abundant LNG inflows and very high wind output largely offset the impact =
of the Norwegian outages. </font></span></div><div><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;"><br></font></span></div><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">By Friday gas futures were roughly =
flat to modestly lower, and power prices were slightly down as strong =
renewables and stable interconnector imports balanced earlier =
tightness. </font></span></div><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;"><br></font></span></div><div><font =
color=3D"#ffffff" face=3D"Arial, Helvetica" style=3D"font-size: 11pt; =
background-color: rgb(209, 33, 55);"><b style> Our =
recommendation:</b> For those with contracts ending in the next 12 =
months, it’s a good time to review your rates to take =
advantage of possible savings and shield your business from =
volatility in the latter part of the =
year. </font></div><div><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;"><br></font></span></div><div><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;">If you are looking =
to review your energy prices, please call us today and speak to your =
account manager. With access to a huge range of leading energy suppliers =
we can make considerable savings on your energy =
bills.</font></span></div></span></div>
</td></tr>
</tbody></table>
</div>
</td></tr>
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=09
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<a align=3D"center" href=3D"tel:08008406800" =
style=3D"padding:0px =
0px;background-color:#d12137;width:250px;height:36px;font-size:11pt;direc=
tion:ltr;font-family:Arial, =
Helvetica;color:#ffffff;cursor:pointer;text-decoration:none;border-radius=
:6px;border:0px solid =
#ffffff;border-collapse:separate;display:table;mso-hide:all;text-align:ce=
nter;" target=3D"_blank" zcurl_name=3D"l_2">
<font =
style=3D"color:#ffffff;display:table-cell;vertical-align:middle;">
Just call 0800 840 6800
</font>
</a>
</td>
</tr>
</tbody></table>
</div>
</div>
</td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1749638967395" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" =
style=3D"border:0px;padding:0px;width:100%;border-collapse:collapse; =
mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;background-color:transparent;"=
>
<tbody><tr>
<td class=3D"txtsize" style=3D"border:0px;padding:0px =
0px;border-top:none none none ;border-bottom:none none none">
<div class=3D"zpelement-wrapper image" coupcmp =
id=3D"elm_1749638967395" prodcmp =
style=3D";word-wrap:break-word;overflow:hidden;padding:0px;background-col=
or:transparent;">
<div>
<table align=3D"left" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" class=3D"zpAlignPos" =
style=3D"text-align:left;width:100%;padding:0px;border:0px;border-collaps=
e:collapse; mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;text-align:center;padding-top:7px;padding-bottom:7px;padding-right:1=
5px;padding-left:15px">
<img align=3D"left" =
alt=3D"https://stratus.campaign-image.eu/images/232114000003081004_1_1749=
639545524_zc-noimage.png" class=3D"zpImage" height=3D"auto" hspace=3D"0" =
size=3D"F" =
src=3D"https://stratus.campaign-image.eu/images/232114000003081004_zc_v1_=
1751963039900_artboard_17.png" =
style=3D"width:570px;height:autopx;max-width:570px =
!important;border:0px;text-align:left;" vspace=3D"0" width=3D"570">
</td></tr>
</tbody></table>
</div>
</div>
</td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1749113855279" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
<div class=3D"zpelement-wrapper" id=3D"elm_1749113855279" =
style=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;backgrou=
nd-color:;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
class=3D"zpAlignPos" =
style=3D"padding:0px;border:0px;border-collapse:collapse; =
mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:15pt;border-t=
op:0px none ; border-bottom:0px none =
;padding-top:10px;padding-bottom:1px;padding-right:20px;padding-left:20px=
">
<div componentlineheight=3D"15pt" =
componentpaddingbottom=3D"1px" componentpaddingleft=3D"20px" =
componentpaddingright=3D"20px" componentpaddingtop=3D"10px" =
style=3D"line-height: 15pt;"><span><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;"><b>What’s happening in the electricity =
market? </b></font></span><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">UK wholesale electricity prices =
ended the week slightly lower, despite early gains driven by reduced =
nuclear availability and lighter wind. As the week progressed, record =
wind generation (peaking near 18 GW) and strong solar output pushed spot =
prices down, displacing gas-fired generation. Stable interconnector =
imports and improving nuclear availability further eased market =
pressure. </font></span><div><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;"><br></font></span></div><div><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;"><b>Key =
drivers:</b></font></span></div></div></span></div>
</td></tr>
</tbody></table>
</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1749113890718" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
<div class=3D"zpelement-wrapper" id=3D"elm_1749113890718" =
style=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;backgrou=
nd-color:;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
class=3D"zpAlignPos" =
style=3D"padding:0px;border:0px;border-collapse:collapse; =
mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:15pt;border-t=
op:0px none ; border-bottom:0px none =
;padding-top:1px;padding-bottom:1px;padding-right:20px;padding-left:1px">=
<div componentlineheight=3D"15pt" =
componentpaddingbottom=3D"1px" componentpaddingleft=3D"1px" =
componentpaddingright=3D"20px" componentpaddingtop=3D"1px" =
style=3D"line-height: 15pt;"><span><ul><li style=3D"color: rgb(0, 0, 0); =
font-size: 11pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;">Record wind output over the weekend and strong solar contribution =
lowered spot prices. </font><li style=3D"color: rgb(0, 0, 0); =
font-size: 11pt;"><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;">Early-week nuclear outages tightened supply =
but are now winding down, easing forward risk. </font></span><li =
style=3D"color: rgb(0, 0, 0); font-size: 11pt;"><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;">Carbon and coal =
costs edged higher but had minimal impact relative to renewables-driven =
dynamics. </font></span><li style=3D"color: rgb(0, 0, 0); =
font-size: 11pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;">Overall demand remained seasonal, with renewables dominating =
price direction.</font></ul></span></div>
</td></tr>
</tbody></table>
</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1751963025705" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
<table bgcolor=3D"transparent" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" =
style=3D"border:0px;padding:0px;width:100%;border-collapse:collapse; =
mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;background-color:transparent;"=
>
<tbody><tr>
<td class=3D"txtsize" style=3D"border:0px;padding:0px =
0px;border-top:none none none ;border-bottom:none none none">
<div class=3D"zpelement-wrapper image" coupcmp =
id=3D"elm_1751963025705" prodcmp =
style=3D";word-wrap:break-word;overflow:hidden;padding:0px;background-col=
or:transparent;">
<div>
<table align=3D"left" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" class=3D"zpAlignPos" =
style=3D"text-align:left;width:100%;padding:0px;border:0px;border-collaps=
e:collapse; mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:left;">
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;text-align:center;padding-top:7px;padding-bottom:7px;padding-right:1=
5px;padding-left:15px">
<img align=3D"left" =
alt=3D"https://stratus.campaign-image.eu/images/232114000003081004_1_1749=
639545524_zc-noimage.png" class=3D"zpImage" height=3D"auto" hspace=3D"0" =
size=3D"F" =
src=3D"https://stratus.campaign-image.eu/images/232114000003081004_zc_v1_=
1751530908414_artboard_18_(2).png" =
style=3D"width:570px;height:autopx;max-width:570px =
!important;border:0px;text-align:left;" vspace=3D"0" width=3D"570">
</td></tr>
</tbody></table>
</div>
</div>
</td></tr></tbody></table>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1749113762791" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
<div class=3D"zpelement-wrapper" id=3D"elm_1749113762791" =
style=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;backgrou=
nd-color:;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
class=3D"zpAlignPos" =
style=3D"padding:0px;border:0px;border-collapse:collapse; =
mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:15pt;border-t=
op:0px none ; border-bottom:0px none =
;padding-top:10px;padding-bottom:1px;padding-right:20px;padding-left:20px=
">
<div componentlineheight=3D"15pt" =
componentpaddingbottom=3D"1px" componentpaddingleft=3D"20px" =
componentpaddingright=3D"20px" componentpaddingtop=3D"10px" =
style=3D"line-height: 15pt;"><span><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;"><b>What’s happening in the gas =
market? </b></font></span><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">Gas prices were range-bound over =
the week, with an early rally on news of planned Norwegian maintenance =
and ongoing geopolitical tensions offset by ample LNG inflows and mild =
demand. By week’s end, prices settled flat to slightly lower as =
healthy storage levels and strong renewables reduced gas-for-power =
demand. </font></span><div><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;"><br></font></span></div><div><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;"><b>Key =
drivers:</b></font></span></div></div></span></div>
</td></tr>
</tbody></table>
</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1749113792010" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
<div class=3D"zpelement-wrapper" id=3D"elm_1749113792010" =
style=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;backgrou=
nd-color:;">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
class=3D"zpAlignPos" =
style=3D"padding:0px;border:0px;border-collapse:collapse; =
mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:15pt;border-t=
op:0px none ; border-bottom:0px none =
;padding-top:1px;padding-bottom:1px;padding-right:20px;padding-left:1px">=
<div componentlineheight=3D"15pt" =
componentpaddingbottom=3D"1px" componentpaddingleft=3D"1px" =
componentpaddingright=3D"20px" componentpaddingtop=3D"1px" =
style=3D"line-height: 15pt;"><span><ul><li style=3D"color: rgb(0, 0, 0); =
font-size: 11pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;">High wind output and mild weather sharply cut gas burn for =
power. </font><li style=3D"color: rgb(0, 0, 0); font-size: =
11pt;"><span><font face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;">European gas storage sits around 76% full, providing a strong =
buffer against price spikes. </font></span><li style=3D"color: =
rgb(0, 0, 0); font-size: 11pt;"><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;">Geopolitical risks (e.g., attacks on =
Ukrainian/Russian infrastructure) kept a modest premium in the market =
but were offset by steady LNG arrivals. </font></span><li =
style=3D"color: rgb(0, 0, 0); font-size: 11pt;"><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">Early supply concerns from =
Norwegian maintenance faded as ample global supply reassured =
traders.</font></ul></span></div>
</td></tr>
</tbody></table>
</div>
</td></tr>
<tr><td class=3D"txtsize" id=3D"elm_1752567952953" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
=09
=20
=20
=20
<table bgcolor=3D"transparent" cellpadding=3D"0" cellspacing=3D"0" =
style=3D"border:0px;border-collapse:collapse; mso-table-lspace:0pt; =
mso-table-rspace:0pt;border:none;" width=3D"100%">
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px 15px;border-top:none none =
none;border-bottom:none none =
none;padding-top:20px;padding-bottom:1px;padding-right:20px;padding-left:=
20px;">
<div class=3D"zpelement-wrapper buttonElem" =
id=3D"elm_1752567952953" =
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auto;border-collapse:separate; mso-table-lspace:0pt; =
mso-table-rspace:0pt;">
<tbody><tr>
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style=3D"border:0px;padding:0px;color:#ffffff;font-family:Arial, =
Helvetica;font-weight:bold;text-align:center;border-radius:6px;text-align=
:center;cursor:pointer;">
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or:#f0f0f0;">
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alt=3D"https://stratus.campaign-image.eu/images/232114000000038171_zc_v1_=
1737994809315_artboard_2.png" class=3D"zpImage" height=3D"auto" =
hspace=3D"0" size=3D"B" =
src=3D"https://stratus.campaign-image.eu/images/232114000003081004_2_1749=
112980733_2.png" style=3D"width:600px;height:autopx;max-width:600px =
!important;border:0px;text-align:left;" vspace=3D"0" width=3D"600">
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<tr><td class=3D"txtsize" id=3D"elm_1737993506327" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
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<table bgcolor=3D"#f0f0f0" border=3D"0" cellpadding=3D"0" =
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<tbody><tr>
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0px;border-top:none none none ;border-bottom:none none none">
<div class=3D"zpelement-wrapper image" coupcmp =
id=3D"elm_1737993506327" prodcmp =
style=3D";word-wrap:break-word;overflow:hidden;padding:0px;background-col=
or:#f0f0f0;">
<div>
<table align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" class=3D"zpAlignPos" =
style=3D"text-align:left;padding:0px;border:0px;border-collapse:collapse;=
mso-table-lspace:0pt; =
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<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;text-align:center;padding-top:10px;padding-bottom:5px;padding-right:=
20px;padding-left:20px">
<img align=3D"center" =
alt=3D"https://stratus.campaign-image.eu/images/232114000000038171_1_1737=
994852865_zc-noimage.png" class=3D"zpImage" height=3D"auto" hspace=3D"0" =
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1749118221193_energy___landscape.png" =
style=3D"width:250px;height:autopx;max-width:250px =
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<tr><td class=3D"txtsize" id=3D"elm_1593407394601" =
style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
<div class=3D"zpelement-wrapper" id=3D"elm_1593407394601" =
style=3D";word-wrap:break-word;overflow:hidden;padding-right:0px;backgrou=
nd-color:#f0f0f0;">
<table bgcolor=3D"#f0f0f0" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" class=3D"zpAlignPos" =
style=3D"padding:0px;border:0px;border-collapse:collapse; =
mso-table-lspace:0pt; =
mso-table-rspace:0pt;word-break:break-word;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" width=3D"100%">
=09
<tbody><tr><td class=3D"paddingcomp" =
style=3D"border:0px;padding:7px =
15px;font-size:12pt;font-family:Arial,Helvetica;line-height:17pt;border-t=
op:0px none ; border-bottom:0px none =
;padding-top:0px;padding-bottom:7px;padding-right:15px;padding-left:15px"=
>
<div componentbgcolor=3D"#f0f0f0" =
componentlineheight=3D"17pt" componentpaddingbottom=3D"7px" =
componentpaddingleft=3D"15px" componentpaddingright=3D"15px" =
componentpaddingtop=3D"0px" style=3D"background-color: rgb(240, 240, =
240);"><span><p align=3D"center" =
style=3D"line-height:1.7;font-family:Arial,verdana;font-size:12px; =
color:#000000;padding:0px;margin: 0;text-align: center; line-height: =
17pt;"><span style=3D"line-height: 17pt;"><font color=3D"#848484" =
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