Tuesday 4 December 2012

Catalyst Energy Market Brief December 2012

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Annual wholesale gas and power prices were affected by a number of conflicting factors in November. The net result was that prices remained stable across the month. Initially low carbon and oil prices were offset by a rise in coal prices and forecasts of a colder winter ahead. The annual power contract climbed 0.3% month-on-month to an average of £52/MWh. Annual power prices have climbed 10% since June and are now only 4% below 2011 levels. The annual gas contract was up 0.8% to a monthly average of 66.3p/th. The annual gas price has climbed 9% since the summer and is now 1% below year-ago levels.

Eurozone concerns caused oil prices to dip at the beginning of November. But by the end of the month prices had started to climb, driven by continued conflict in the Middle East. Month-ahead Brent crude oil dropped 3% to a monthly average of $109.1/bl.

Coal prices recovered slightly as demand picked up across the EU. The monthly average price of coal rose 0.3% to $96/t and reached an eight-month high of $103.5/t on 12 November. Even so, coal prices are still 16% below last year.

Read More - http://www.catalyst-commercial.co.uk/catalyst-energy-market-brief-december-2012/

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