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Energy Prices (Early June 2014)

Early June 2014

Electricity:   A colder forecast winter for 2014, 3 GW of plant closures since 2013 and Nuclear plant outages in October and November are all likely to cause higher winter prices for 2014.

A positive report from ENTSO-E (the association for European power network operators) says that Europe has sufficient generation for both normal and severe demand conditions, despite shutdowns and mothballing of many oil and gas power stations.

Gas: A court decision in Japan to block the restart of two nuclear reactors has delayed Japanese plans to bring many nuclear plants back online, maintaining the country’s need for LNG and shoring up global prices.

The British Geological society has published a report revealing billions of barrels of oil reserves in shale rock deposits in southern England. These can only be recovered through the controversial fracking process, but with the UK government announcing plans to relax regulations on fracking, this discovery could prove important for the UK’s long-term energy security

Summary position:

Oil $109.32/barrel

Coal $80.75/MT

EUA 14 €4.83/TCO2

Gas 57.8/th Oct 14

Gas 59.8/th Apr 15

Electricity £49.28/MWh Oct 14

Electricity £52.28/MWh Apr 15