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Energy Prices (mid November 2012)

Early November has seen a variety of reactions within the energy markets following a number of world events, amongst which are the re-election of President Obama, the escalating conflict between Israel and Gaza, a cold start to the winter in China and significantly, the European Commission bringing forward plans to release less Carbon Allowances to the 2013-2015 market.

This has meant that short-term electricity has dropped, whilst Winter months have risen and the Annual Electricity has firmed up slightly, leaving April 13 at just over £52/MWh and Oct 13 at over £53/MWh

Equally, Gas has lifted in both Apr 13 and Oct 13 to 66.6p/th and 66.83p/th, respectively.

Coal has risen almost 3.5% and now stands at $96.6/MT.

Oil has encountered volatility ending the 2 week period at just over $108/barrel.

However, it is Carbon that has headed in the opposite direction, dropping to 7Euros/TCO2 for EUA 12.