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Energy Prices (Mid January 2018)

Electricity:  

The SMMT (The Society of Motor Manufacturers and Traders) have reported that alternatively-fuelled cars, including plug-in electric cars, accounted for a record 4.7% share of registered cars in the UK last year, with UK consumers buying more plug-in cars than anywhere else in Europe.

It has been suggested by analysts that increasing US oil output just as seasonal maintenance reduces oil refinery demand is set to apply pressure to oil prices in the near future.

Gas: 

Production disruptions in Malaysia, Russia, Angola have resulted in a continuing rise in Asian LNG prices.

Centrica Storage Limited has been granted approval to withdraw the remaining “cushion” gas in the now closed Rough storage site. Centrica was cleared to extract 30.7 bcf (billion cubic feet) (0.9 BCM) of gas from the site in September and has now extracted almost all of this volume. An estimated 149 bcf (4.2 BCM) of cushion gas remains in the facility.

Summary position: 

Oil $69.98barrel

Coal $85.60/MT

EUA 17 €7.80/TCO2

Gas 49.45p/th Apr 18

Gas 48.50p/th Oct 18

Electricity £47.90/MWh Apr 18

Electricity £46.28/MWh Oct 18