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Energy Prices (mid November 2014)

Mid November 2014

Electricity:  A cold winter is one of the main risks to market prices, as the unseasonably mild year continues; a weather shock could make demand increase sharply.

Development of the Walney Extension windfarm in the Irish Sea has been approved; with a capacity of 750 MW it will be one of the largest offshore wind farms in the world.

Gas: Gas supplies are currently good, but any flare-ups in Ukraine could shake confidence in Russian supplies.

Crude Oil prices continue to fall dramatically, bringing down prices of associated products. Prices have already dropped past $80/barrel, and passing $70/barrel is starting to look very likely.

Summary position:

Oil $81.67/barrel

Coal $71.3/MT

EUA 14 €6.8/TCO2

Gas 55.28/th Apr 15

Gas 56.2p/th Oct 15

Electricity £49.85/MWh Apr 15

Electricity £50.40/MWh Oct 15