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Energy Prices (mid February 2015)

mid February 2015

Electricity:  The European Parliament’s environment committee is due to vote on measures to tighten the carbon allowance target, if this vote is positive this may drive up EUA prices.

Although prices surged in the last week, a new downward trend looks to be starting as fears over supply from Dutch gas fields subside.

A forecast for milder and windier weather may reduce demand and increase output from wind farms in the next few weeks.

Gas: oil Prices rebounded sharply as production cutbacks and international political concerns threaten to affect supply. Numerous unplanned outages have affected gas supply to the UK in the short term.

Prices are expected to soften after the initial shock from production cutbacks eases off. Fundamentally European and UK gas supplies are good. Asian LNG prices have fallen further and this may encourage LNG cargoes to be diverted away from Asia to the UK

Summary position:

Oil $61.79/barrel

Coal $64.43/MT

EUA 14 €7.74/TCO2

Gas 50.3p/th Apr 15

Gas 50.5p/th Oct 15

Electricity £46.33MWh Apr 15

Electricity £46.98/MWh Oct 15