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Energy Prices (early February 2015)

Early February 2015

Electricity:  Further cold weather is predicted for the coming weeks, which will likely boost demand and drive up short term prices.

The oversupply on many energy markets is unlikely to disappear overnight, and prices may drop further.

EDF have announced that Dungeness B nuclear reactor has extended the expected working life by 10 years to 2028

Gas: Arbitration between Russian and Ukrainian suppliers has been delayed until 2016, fuelling speculation about gas supply capabilities over the winter of 2015/16 as the interim agreement ends next month.

European Gas demand dropped by 13% last year, while the fact it was the warmest year since records began in the late 1800’s certainly played a part, increased energy efficiency and  the economic climate also helped reduce demand and put pressure on prices.

Summary position: 

Oil $52.99/barrel

Coal $60.85/MT

EUA 14 €7.20/TCO2

Gas 46.35p/th Apr 15

Gas 46.03p/th Oct 15

Electricity £44.0MWh Apr 15

Electricity £44.30/MWh Oct 15