Coal continues to be favoured by fuel prices over gas for UK power generation this summer however according to National Grid’s summer outlook report the closure of some coal-fired plants will increase the use of gas compared with last summer. ›
Weeks of unusually cold weather have drained nearly all of Britain’s gas supplies, sparking fears of a spike in energy prices, it has been reported. ›
British wholesale spot gas prices rose above 90 pence a therm this week as extreme cold pushed up demand and reduced further already heavily depleted gas storage levels. ›
The European Commission said it has opened an in-depth inquiry into the exemptions from power grid charges enjoyed by big electricity-consuming companies in Germany. “If this turns out to be the case, the Commission will further examine whether the exemption is likely to unduly distort competition in the EU or whether it can be justified,” the EC said in a statement. ›
Rough, the UK’s long-range gas storage facility will be empty by mid-March if it continues to churn out gas at full capacity. According to National Grid date this has raised concerns in the market and played a part in an increase in prices. ›
On Friday the system was left short by lower flows from UK gas fields, fewer imports and less liquified natural gas remains which moved gas prices higher. Traders said colder weather will drive demand for heating. ›
U.K. natural gas for within-day delivery rose to an 11-month high as temperatures fell to the lowest since February, boosting demand for the heating fuel. ›
Brent crude fell below $112 a barrel on Thursday as the prospects of more budget battles in the United States and rising oil supply weighed on prices, although upbeat economic data from China limited losses. ›
Amid signs of economic growth in the U.S. and China, the world’s biggest crude consumers, Oil headed for its first monthly gain since August in New York. ›
Oil rose on concern that the clash between Israel and Hamas will escalate into a wider conflict that would endanger Middle East crude shipments. ›
