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Energy Prices (Early August 2014)

Early August 2014

Electricity:   A number of nuclear and coal-fired plant outages planned for August could tighten supply. The fire at Ferrybridge will further reduce supply for several months with one 490 MW unit expected to be offline until November, and the other until April 2015.

Warmer than Average temperatures for the UK and most of Europe, are forecast for well in to October, reducing autumn demands.

Gas: Significant maintenance is planned in the North Sea during August, which could reduce production and support prices. The BBL interconnector between Holland that the UK will also close for maintenance, reducing imports by about 10 mcm/day.

Indications are that LNG deliveries will continue to arrive at high levels as production remains strong and Asian demand is weak.

Summary position:

Oil $104.84/barrel

Coal $78.65/MT

EUA 14 €6.25/TCO2

Gas 55.8/th Oct 14

Gas 58.38/th Apr 15

Electricity £48.45/MWh Oct 14

Electricity £51.55/MWh Apr 15