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Energy Prices (early January 2014)

Electricity:   The European commission has opened investigations in to whether the UK plans to subsidise the new nuclear plant at Hinkley Point contravene European state aid rules.

The current trend in price differentials between future annual prices has continued to narrow. This trend may continue bringing future annuals more in line with the nearby annuals.

Gas: Natural gas exports from Norway fell by 5% in 2013, as production capacity has been blighted by problems at the Troll field. Gazprom is also reported to be reducing output this year by 4 billion cubic metres.

Warmer than usual temperatures are predicted to continue across Europe for the remainder of the winter. Potentially reducing demand across the continent.

Summary position: 

Oil $108.35/barrel

Coal $86.00/MT

EUA 14 €5.02/TCO2

Gas 66.93/th Apr 14

Gas 66.15p/th Oct 14

Electricity £52.25/MWh Apr 14

Electricity £53.55/MWh Oct 14