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Energy Prices (early May 2014)

Early May 2014

Electricity:   Tensions in Ukraine continue, and are set to underpin the energy market for months to come.

RWE has confirmed that the Littlebrook oil-fired power station is due to shut in March, taking 1,140 MW offline

National Grid’s summer outlook report for June to August 2014 forecasts lower demand than 2013, helping ease pressure on the network and on prices.

Gas: Summer Maintenance in Norwegian gas fields is due to start this month, with the Ormen Lange and Hullfaks fields set to shut down, reducing flows out from the Kollsnes terminal.

Three large LNG cargoes are scheduled to arrive in the UK this week, with more reported to be on the way from Qatar. If this rate of delivery continues gas supplies will be shored up for the summer and could keep short-term prices down

Summary position:

Oil $107.45/barrel

Coal $82.45/MT

EUA 14 €5.45/TCO2

Gas 59.5/th Oct 14

Gas 60.58/th Apr 15

Electricity £50.68/MWh Oct 14

Electricity £53.17/MWh Apr 15