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Energy Prices (mid March 2015)

Mid March 2015


Electricity:  Continuing lack of clarity from the UK government on renewables policy is damaging attractiveness to investors, warned Ernst and Young.

Over a quarter of Europe’s coal fuelled power stations could be forced to close by 2023 due to stricture environmental legislation.

Further oil and coal market losses could push UK power prices down further.

A planned 1,500 MW gas fired power station in West Yorkshire has been approved by DECC. The plant is scheduled to be online by 2018

Gas: The gas market prices continue to trend downwards, but are still susceptible to international politics, cold snaps of weather and unplanned breaks in production. If the US dollar weakens, prices will start to trend upwards.

LNG imports in to Europe are likely to be 20% higher this year than in 2014, as Asian market prices stay low, exports are diverting to Europe.

Maintenance works on several terminals, storage sites and Norway’s Gudrun gas field are set to end this month, keeping supply and storage capacities good.

Summary position:

Oil $53.15/barrel

Coal $57.45/MT

EUA 14 €6.53/TCO2

Gas 46.55p/th Apr 15

Gas 46.53p/th Oct 15

Electricity £43.70/MWh Apr 15


Electricity £43.80/MWh Oct 15