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Energy Prices (early March 2014)

Electricity:   Escalation of the situation in Ukraine could push prices higher, especially if Russian exports of gas, oil or coal are threatened.

Continuing warm temperatures are reducing demand for electricity. As the weather trend is projected to continue in to the spring the reduced demand should put pressure on prices.

Gas: LNG production facilities in Algeria, Angola, Indonesia, Norway, Qatar and Yemen are all scheduled for maintenance shutdowns in Q2 2014, which could tighten global supplies and push prices up.

If the Ukrainian crisis is resolved in a way that does not significantly impact Russian gas flows to Europe, the market may slip back to the recent trend of decreasing prices as a result of regional over-supply and unseasonably warm weather.

Summary position: 

Oil $111.36barrel

Coal $81.20/MT

EUA 14 €6.70/TCO2

Gas 65.28/th Apr 14

Gas 65.40/th Oct 14

Electricity £52.05/MWh Apr 14

Electricity £54.23/MWh Oct 14