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Energy Prices (early July 2014)

Early July 2014

Electricity:   A forecast heatwave in the UK and mainland Europe could drive prices up for the summer months as demand for air conditioning and cooling will surge.

The UK Government has announced plans tin secure 53.3 GW of capacity by winter 2018 as part of the capacity market plans under the Electricity Market Reform (EMR).

Gas: While there is currently a global glut of LNG which has pushed prices in key regions to a three year low, analysts are warning of potential rebound in prices once winter demand kicks in.

Storage sites in the UK are almost 84% full and overall EU sites are 75% full, this is likely to limit demands for exports over the rest of the summer.

Summary position: 

Oil $112.16/barrel

Coal $78.63/MT

EUA 14 €6.04/TCO2

Gas 55.05/th Oct 14

Gas 57.05/th Apr 15

Electricity £47.5/MWh Oct 14

Electricity £50.9/MWh Apr 15