Energy and Utility Management Consultants

Natural Gas & Electricity Wholesale Prices Fall Plus Fines, Withdrawals and New Applications Made

November 2011

 

The wholesale price of Brent Crude Oil has seen somewhat of a recovery following a plummet to $100 per barrel on the 1st October - during the rest of the month, prices stepped up to c.$110 per barrel following a seriesof peaks and troughs reflecting a gradual fall. Natural gas and electricity wholesale prices have fallen in a more even way, seeing just minor upward spikes recently and, overall, falling to a very welcome 6-month low.
 
An eventful week or so in terms of energy news:
 
  • Npower are fined £2m by Ofgem for failing to handle customer complaints. Something we as a full Utility Bureau Service provider can contest to - there are few things more frustrating than dealing with suppliers when resolving complex (and sometimes simple) queries. In the case of Npower, Ofgem has seen it appropriate to fine one of the Big Six heavily following shortcomings most notably concerning the level of detail provided following customer complaints. Lets hope it makes other suppliers sit up and take note.
  • Scottish & Southern Electric withdraw their application for a 72.5MW windfarm in North Ayrshire citing a 'range of construction and planning challenges' making the proposition untenable. A small blow to the renewable drive, but when you consider that only 26% off all applications for windfarms in England are currently going ahead, not a surprising one.
  • Eon Energy order 267MW of turbines for offshore windfarms in the UK and Sweden - a total of 86 new turbines, although their positioning is to be confirmed at the time of writing.
  • EDF Energy apply to the IPC (Infrastructure Planning Commission) for development consent for Hinkley Point C - set to become the first new nuclear power station since Sizewell B in the 1980's. With an anticipated completion date at the end of 2017 being just 6 years away, it can be expected the extra supply will go some way to cover the losses to the grid when the Oldbury & Wylfa plants retire next year.
  • The Vale of Glamorgan Council reject an application for shale gas exploration in Llandow, Wales over water pollution fears. Although an appeal is expected by Coastal Oil and Gas Limited, fracking tests in Blackpool being blamed for Lancashire earth tremors in April and May will do little to help their cause.
  • Switzerland have recently voted to debunk nuclear power in favour of new-energy. This is expected to be an extended phase out, unlike Germany who shutdown a number of nuclear generators in April of this year following the Fukushima disaster (not considered as a deciding factor in this case), and is more accredited to no new constructions over actual early retirement of existing generators.
 
Get in touch with our expert team of Energy Consultants and Utility Consultants today using this link to discuss any aspects of your Business Energy Procurement and Energy Management - in these busy times, anyadvice can be good advice, and we're always happy to help.

 

 

 

 

< Back to news