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Energy Prices (Early March 2018)

Electricity:  

General Electric has announced plans to develop the world’s largest offshore wind turbine. The turbine will have a capacity of 12 MW, height of 260 metres and blades that are 107 metres long.

Milder weather is now forecast across much of Europe from this weekend and into next week; this excludes the UK and Scandinavia which are forecast to remain colder than normal well into March with a risk of possible freezing spells.

Gas: 

The cold snap in Europe has resulted in significant withdrawals from gas storage sites; this has pushed inventories towards their lowest levels for the time of year since at least 2011.

We may see a tightening in the Asian LNG market following the news that Papua New Guinea’s LNG export plant will be closed for up to six weeks due to an earthquake.

Summary position: 

Oil $63.37barrel

Coal $77.15/MT

EUA 18 €9.99/TCO2

Gas 46.65p/th Apr 18

Gas 45.10p/th Oct 18

Electricity £46.28/MWh Apr 18

Electricity £44.70/MWh Oct 18