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Energy Prices (mid August 2014)

Mid August 2014

Electricity:   Heysham 1 and Hartelpool nuclear plants have shut down for safety inspections, which will underpin prices for the next few weeks.

Having risen sharply in the last few weeks, prices may correct downwards soon, especially as the perceived threat to Russian gas supplies fades.

Gas: Forecasts for continuing colder weather and the return of traders from summer holidays may increase post-summer jitters as attention shifts to winter supplies.

Imports of LNG from China to Australia could displace demand for Qatari LNG, diverting the exports to Europe instead. Reports of “parked” exports ready for re-export in the winter may help reduce prices further.

Summary position:

Oil $104.28/barrel

Coal $79.7/MT

EUA 14 €6.24/TCO2

Gas 59.25/th Oct 14

Gas 60.75/th Apr 15

Electricity £50.68/MWh Oct 14

Electricity £53.05/MWh Apr 15