Latest News

Energy Prices (mid October 2013)

Electricity: The National Grid has increased its estimate of available capacity for December-March, the Barking-2 power station is now said to be available for the period, adding 900 MW. Ireland’s Energy Bridge project is continuing, with plans to export 5000MW of wind capacity to the UK by 2017. The UK government is said to be extremely close to finalising a deal for the construction of a new 3000MW nuclear plant at Hinkley Point.

The owners of the Teesside power station have ruled out re-opening the plant. The 1900MW plant is now set for demolition.

Gas: A mild short-term forecast should curb demand and keep short-term prices down. LNG exports from Qatar may not have been restricted as much as anticipated by maintenance, with three LNG cargoes heading to the UK in late October.

Norwegian exports to the Dunkirk terminal in France are set to resume, stemming the flow of excess gas that had been re-routed to the UK during maintenance at the site. The start-up of the Laggan and Tormore gas fields to the west of Shetland has been delayed by nearly a month in summer 2014, further slippage could damage confidence for winter 2014 prices.

Summary position:

Oil $109.28/barrel

Coal $83.35/MT

EUA 14 €5.34/TCO2

Gas 66.50p/th Apr 14

Gas 65.35p/th Oct 14

Electricity £52.20/MWh Apr 14

Electricity £53.50/MWh Oct 14