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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: Tue, 9 Sep 2025 11:33:02 +0100
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Good morning,
Please find below your weekly business energy update, beginning with our
summary recommendation.
Summary: UK wholesale gas and electricity markets were relatively steady
this week after last week’s falls. Record wind output at the end of August
initially kept power and gas demand subdued, but as conditions normalised,
prices firmed slightly. Gas remained range-bound with comfortable storage
and steady LNG flows.
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/232114000003135045_zc_v1_1751963039900_artboard_17.png>
What’s happening in the electricity market?
UK wholesale electricity prices held steady last week, with day-ahead
baseload returning toward £80/MWh after sharp declines early in the week
caused by record wind output. Improved nuclear availability and consistent
solar generation added stability to the forward curve. Interconnector flows
balanced the system, exporting surplus during high-wind periods and
importing during calmer spells.
Key drivers:
* The return of Heysham 2-7 and Torness 1 added around 1.2 GW of zero-carbon
baseload capacity.
* Strong solar generation during clear days reduced peak system prices.
* Interconnectors provided flexibility, balancing imports and exports in
response to renewable swings.
* Forward contracts flattened, supported by improved nuclear and renewable
outlooks.
<https://stratus.campaign-image.eu/images/232114000003135045_zc_v1_1751530908414_artboard_18_(2).png>
What’s happening in the gas market?
UK gas prices were relatively stable, with day-ahead moving back above 80
p/th by week’s end. Extended Norwegian maintenance, particularly at major
fields like Troll, reduced exports by ~100 mcm/day versus August, adding a
modest risk premium. However, strong European storage (around 77% full),
steady LNG send-out, and subdued industrial demand kept price movements
contained.
Key drivers:
* Norwegian maintenance limited pipeline flows but didn’t cause major
disruptions.
* European storage remained comfortably above seasonal norms, reducing
volatility.
* Mild early-September weather and low industrial demand capped consumption.
* LNG supply remained steady, supporting overall system balance.
<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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style=3D"line-height: 15pt;"><span><span><font face=3D"Arial, Helvetica" =
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>UK wholesale gas and electricity markets were relatively steady this =
week after last week’s falls. Record wind output at the end of =
August initially kept power and gas demand subdued, but as conditions =
normalised, prices firmed slightly. Gas remained range-bound with =
comfortable storage and steady LNG =
flows. </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>
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=09
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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/232114000003135045_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/232114000003135045_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><b><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">What’s happening in the =
electricity market? </font></b></span><div><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;">UK wholesale =
electricity prices held steady last week, with day-ahead baseload =
returning toward £80/MWh after sharp declines early in the week =
caused by record wind output. Improved nuclear availability and =
consistent solar generation added stability to the forward curve. =
Interconnector flows balanced the system, exporting surplus during =
high-wind periods and importing during calmer =
spells. </font></span><div><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;"><br></font></span></div><div><span><b><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;">Key =
drivers:</font></b></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;">The return of Heysham 2-7 and Torness 1 added around 1.2 GW of =
zero-carbon baseload capacity. </font><li style=3D"color: rgb(0, 0, =
0); font-size: 11pt;"><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;">Strong solar generation during clear days =
reduced peak system prices. </font></span><li style=3D"color: =
rgb(0, 0, 0); font-size: 11pt;"><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;">Interconnectors provided flexibility, =
balancing imports and exports in response to renewable =
swings. </font></span><li style=3D"color: rgb(0, 0, 0); font-size: =
11pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;">Forward contracts flattened, supported by improved nuclear and =
renewable outlooks.</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/232114000003135045_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/232114000003135045_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><b><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">What’s happening in the gas =
market? </font></b></span><div><span><font face=3D"Arial, =
Helvetica" style=3D"font-size: 11pt;">UK gas prices were relatively =
stable, with day-ahead moving back above 80 p/th by week’s end. =
Extended Norwegian maintenance, particularly at major fields like Troll, =
reduced exports by ~100 mcm/day versus August, adding a modest risk =
premium. However, strong European storage (around 77% full), steady LNG =
send-out, and subdued industrial demand kept price movements =
contained. </font></span><div><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;"><br></font></span></div><div><span><b><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;">Key =
drivers:</font></b></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;">Norwegian maintenance limited pipeline flows but didn’t =
cause major disruptions. </font><li style=3D"color: rgb(0, 0, 0); =
font-size: 11pt;"><span><font face=3D"Arial, Helvetica" =
style=3D"font-size: 11pt;">European storage remained comfortably above =
seasonal norms, reducing volatility. </font></span><li =
style=3D"color: rgb(0, 0, 0); font-size: 11pt;"><span><font =
face=3D"Arial, Helvetica" style=3D"font-size: 11pt;">Mild =
early-September weather and low industrial demand capped =
consumption. </font></span><li style=3D"color: rgb(0, 0, 0); =
font-size: 11pt;"><font face=3D"Arial, Helvetica" style=3D"font-size: =
11pt;">LNG supply remained steady, supporting overall system =
balance.</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" =
style=3D"overflow:hidden;word-wrap:break-word;">
<div class=3D"zpAlignPos" style=3D"text-align:center;">
<table align=3D"center" cellpadding=3D"0" =
cellspacing=3D"0" style=3D"border:none;padding:0px;border:0px;margin:0px =
auto;border-collapse:separate; mso-table-lspace:0pt; =
mso-table-rspace:0pt;">
<tbody><tr>
<td align=3D"center" class=3D"txtsize" =
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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arcsize=3D"6%" strokecolor=3D"#ffffff" strokeweight =3D"0px" =
fillcolor=3D"#d12137">
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tion:ltr;font-family:Arial, =
Helvetica;color:#ffffff;cursor:pointer;text-decoration:none;border-radius=
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style=3D"border:0px;padding:0px 0px;border-collapse:collapse;" =
valign=3D"top">
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or:#f0f0f0;">
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style=3D"border:0px;padding:0px;text-align:center;padding-top:0px;padding=
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<img align=3D"left" =
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/232114000003135045_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;" =
valign=3D"top">
<table bgcolor=3D"#f0f0f0" 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:#f0f0f0;">
<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_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; =
mso-table-rspace:0pt;word-break:break-word;width:100%;text-align:center;"=
>
<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" =
size=3D"O" =
src=3D"https://stratus.campaign-image.eu/images/232114000003135045_zc_v1_=
1749118221193_energy___landscape.png" =
style=3D"width:250px;height:autopx;max-width:250px =
!important;border:0px;text-align:center;" vspace=3D"0" width=3D"250">
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</td></tr>
<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" =
style=3D"line-height: 17pt;"><span style=3D"line-height: =
17pt;"><span><b>Our mailing address =
is:</b></span></span></font></span></p><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" =
style=3D"line-height: 17pt;"><span style=3D"line-height: =
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