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Energy Prices (mid November 2013)

Electricity:  An amendment has been added to the UK energy bill that could cause some coal fired power plants to close earlier than anticipated, affecting up to 15 GW of capacity. Temperatures are set to fall over the next few days, with forecasts predicting a possibility of snow next week.

Several coal and nuclear plants are scheduled to return from maintenance over the next few weeks, improving supply and applying potential downward pressure to the short-term market.

Gas:  Temperatures are forecast to drop next week, according to the UK Met Office. This could push up consumption and prices, while the Rough storage site is scheduled to reduce its withdrawal capacity from the last week of November.

 A possible increase in UK imports from the Continent over the coming weeks will help to keep prices down. The Rhum gas field in the North Sea, co-owned by BP and the Iranian Oil Company and shut down in 2013 to comply with Iranian sanctions, could now resume output in 6-9 months.

Summary position: 

Oil $107.16/barrel

Coal $81.20/MT

EUA 14 €4.73/TCO2

Gas 67.25p/th Apr 14

Gas 66.00p/th Oct 14

Electricity £52.65/MWh Apr 14


Electricity £53.70/MWh Oct 14