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Solo Oil Plc

Increase in demand for gas pushes wholesale energy prices up

Higher than normal demand for natural gas helped spark an increase in wholesale energy prices last month, figures published on Monday by independent supplier Naturgy show.

The company’s Energy Review and Forecast for July shows that wholesale electricity prices climbed 14 per cent last month while gas rose 6 per cent.

Gas prices have a significant impact on Irish energy bills because we generate about two-thirds of the electricity we use by burning the fuel.

Solo Oil PLC (LON:SOLO) is an investment company with the target of acquiring a diverse global portfolio of direct and indirect interests in exploration, development and production oil and gas assets, both on-shore and off-shore.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.