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Energy Prices (Mid March 2018)

Electricity:  

In an effort to offset the effect of a domestic cap on prices in Indonesia the country has increased production limits on miners by 10%. There are plans for this extra production to be exported, adding to the global supply.

Forecasts predict that the colder than normal temperatures experienced across Europe will persist for the rest of the month supporting demand.

Gas: 

As a result of the cold weather gas inventories have fallen to 23%, their lowest level in 7 years. With a new cold snap forecast these levels will reduce further, resulting in increasing supply sensitivities across the market.

The first cargo from Cove Point, the new LNG terminal on the US east coast, is expected to arrive in the UK this week. After originally being destined for Asia, falling Asian prices resulted in the shipment being diverted to the UK

Summary position:  

Oil $65.11barrel 

Coal $75.60/MT

EUA 18 €11.18/TCO2

Gas 48.43p/th Apr 18

Gas 46.10p/th Oct 18

Electricity £48.83/MWh Apr 18

Electricity £46.08/MWh Oct 18