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Energy Prices (mid December 2013)

Electricity:   The investment bank Credit Suisse has claimed the UK is the only European power market that will see price increases in 2014 due to declining supply and government intervention.

Mild weather and a seasonal tail off in demand could push prices down. Solar power capacity in the UK could reach 3500 MW by June 2014, up from 2400 MW in June 2013.

Gas:  Estimates of North Sea oil and gas production through to 2020 have been reduced from 14 billion terms/year to 12.5 billion therms/year. There is a shortfall in the LNG supply due to lower Norwegian production and a potential cut in Dutch imports.

Gas storage volumes have recovered well in the UK and Europe, meaning that stocks may end the year at a higher level than last year, especially as weather is forecast to stay mild.

Summary position: 

Oil $109.48/barrel

Coal $84.4/MT

EUA 14 €5.06/TCO2

Gas 67.75p/th Apr 14

Gas 66.85p/th Oct 14

Electricity £52.80/MWh Apr 14


Electricity £53.95/MWh Oct 14