Cold spell sees rise in fuel demands

THERE was a major increase in the global demand for oil, coal and natural gas last month as a result of extreme weather and a global economic recovery.

Fears have also been expressed that another cold snap could lead to a further reduction of coal stocks in Europe which have already fallen steadily over the past few months.

The Bord Gáis Energy Index (BGEI), an Irish-specific index designed to measure the prices in the wholesale energy market, increased by 12% in December, to 137.