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Assured Energy Update – November 2020

Updated: Nov 21, 2020

Energy Buying Support for Independent Hoteliers

Market Conditions / Price Drivers:

· The coronavirus virus has resulted in surplus energy storage, resulting from shutting of factories and a collapse in travel (supply Vs demand).

· The weather experienced last winter was mild and therefore related increase was not passed on (supply Vs demand). Furthermore, temperatures are set to remain higher than usual.

· Stock Markets around the world crashed in March/April wiping off trillions of the global economy, a road to recovery has started.

· Crude oil prices nosedived to a two-decade low trading at $20ish dollars a barrel prior to making a recovery to around $40ish dollars a barrel (supply Vs demand once again a key driver).

· The Brexit uncertainly is impacting the market

· The Pound Vs Euro has been quite stable and this has kept rates really competitive

Utility Trading Graphs