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In The Press
International Press
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"Prices have fallen dramatically over the last three days, shedding value in response to poor economic data from the US, with US companies just adding 88,000 jobs," said energy analyst Joe Conlan at British-based energy consultancy Inenco. "This was far worse than economists had predicted. The falls may have been greater had it not been for news from the Bank of Japan that they were launching a massive injection of capital into the economy. "Not even the threat of military action on the Korean peninsula has stopped the slide in the oil markets, with technical indicators pointing to a price around or just under $100 per barrel."  Read more |
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Anthony Mayal on Energy Live News
Consulting Group NIFES, which advises businesses on energy efficiency, said there are many options available for firms to be more efficient. Managing Director Anthony Mayall said: “Often saving energy slips off businesses’ radar as they focus on negotiating tariffs and minimising energy taxes but the rising carbon prices will encourage more energy saving measures. Every kilowatt saved makes a UK manufacturing site more competitive in the global landscape and saving energy is used by many of our clients as a source of competitive advantage. There are great opportunities for operational teams to buy into energy saving since much of the spend is on process, an area which is often considered “no go” due to fears of affecting production quality.” Read more |
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Joe Conlan, an analyst at energy consultants Inenco said: "The system has struggled to balance on a number of days. "Storage levels are alarmingly low, with Rough Storage, the UK's biggest storage facility, at under 10% of capacity. "Further price rises are likely over the remainder of the cold spell and beyond." Read more |
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"At present from our analysis, we cannot see a way the system could balance today as it is currently eight million cubic metres short, with no other storage able to be drawn on at present," he said. "This may mean that large customers and consumers will be asked to turn down or turn off before the end of the day. More information will be issued if this is to happen." Read more |
Budget 2013
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