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Energy Prices (early November 2014)

Early November  2014

Electricity:  the national Grid winter outlook for 14/15 states that margins will be tight this winter following plant closures, especially if there is any disruption to interconnectors to the continent or low wind.

A 500MW heat and power plant has been approved by DECC for construction in Pembrokeshire. And prudential have invested £100 million in the 320 MW tidal array project in Swansea.

Gas: Although November is expected to be warmer than usual, forecasts for January anticipate much colder weather.

Gas supply security for the winter is unusually good, with gas storage, supplies and network capacity in excess of the expected demand

Summary position:

Oil $86.24/barrel

Coal $71.6/MT

EUA 14 €6.36/TCO2

Gas 55.18/th Apr 15

Gas 56.05p/th Oct 15

Electricity £49.98/MWh Apr 15

Electricity £50.33/MWh Oct 15