Todays Wholesale Gas Price 1p / kWh

[Gareth J]

Hopefully they'll be cranking up the AN plants. With one thing and another, food prices are going to be very high this winter/next year as it is. Wouldn't be the daftest idea to try to knock back fertilizer costs from the current 3-4x the usual price situation.

[Moxi]

Yes digester plants are a useful contributor to the gas grid and they have the added benefit of nutrient rich soil conditioner as a by product, unfortunately a lot of the digesters in the country don't digest at the newer specified temperatures required to allow the digestate to be spread on arable land thats used to grow food crops.

Moxi

[Ken]

Why do we need more gas storage ? we seem to be managing OK without (with or without Russia). We are importing a lot of LNG from USA etc in order to ship to EU and they can reduce supply from Russia and fight a war without guns.

[nowty]

Why do we need more gas storage ? we seem to be managing OK without (with or without Russia). We are importing a lot of LNG from USA etc in order to ship to EU and they can reduce supply from Russia and fight a war without guns.

Not when the year ahead prices are still 7 times todays price which would still imply a circa 10p+ / kWh retail price.

[AE-NMidlands]

Why do we need more gas storage ? we seem to be managing OK without (with or without Russia). We are importing a lot of LNG from USA etc in order to ship to EU and they can reduce supply from Russia and fight a war without guns.

We have paid a terrible price for what we have been imorting...
Maybe we need more storage because with it "we" can temporarily cease importing if the price spikes, and avoid higher prices? or maybe buy more when the prices are low, e.g. in summer, or maybe
if there is a bad prang at the mouth of Milford Haven and ships of gas can't get in it delays the date when we run out?

[Ken]

Not sure that more storage would influence the price as gas will always be traded at market prices. Is there any evidence from those countries who have considerably more storage that it has reduced the price ? Anyway gas is on its way out so why spend money on a dieing industry.

[nowty]

Not sure that more storage would influence the price as gas will always be traded at market prices. Is there any evidence from those countries who have considerably more storage that it has reduced the price ? Anyway gas is on its way out so why spend money on a dieing industry.

The traded price is not identical all over Europe, my energy trader friend told me today that the UK is the cheapest place at the moment because there is plenty of supply and little demand. If we had more storage then the supply would be more certain even under heavier demand conditions, therefore the future prices would be cheaper.

Gas is on the way out ?, even this minute late into the evening with high winds we are burning 48% of leccy generation with gas because we are exporting 15% of leccy to Europe to reduce the gas burn in Europe, therefore Europe can top up on its gas supplies. If Europe is going to say goodbye to Russian gas, this is going to be the new normal for maybe years to come. Go back a few months and we were importing 15% of leccy, therefore our gas generation with these high wind renewable conditions would only require 48% - 15% - 15% = 18% gas leccy generation.

These are not normal times, there is a war on you know.

[Joeboy]

Not sure that more storage would influence the price as gas will always be traded at market prices. Is there any evidence from those countries who have considerably more storage that it has reduced the price ? Anyway gas is on its way out so why spend money on a dieing industry.

The traded price is not identical all over Europe, my energy trader friend told me today that the UK is the cheapest place at the moment because there is plenty of supply and little demand. If we had more storage then the supply would be more certain even under heavier demand conditions, therefore the future prices would be cheaper.

Gas is on the way out ?, even this minute late into the evening with high winds we are burning 48% of leccy generation with gas because we are exporting 15% of leccy to Europe to reduce the gas burn in Europe, therefore Europe can top up on its gas supplies. If Europe is going to say goodbye to Russian gas, this is going to be the new normal for maybe years to come. Go back a few months and we were importing 15% of leccy, therefore our gas generation with these high wind renewable conditions would only require 48% - 15% - 15% = 18% gas leccy generation.

These are not normal times, there is a war on you know.

If we can force/assist a coup in Russia by bankrupting the economy fair enough. Yet Russian folk are not easily cowed, hardship is in their blood. Yes to cutting off as much finance as possible to Putin but I don't think that will be enough. I have been wondering the last few days at how much Russian oil and gas is currently flowing to Kazakhstan for a quick rebrand..

Good on Europe though for doing what they can without self inducing another financial meltdown.

[Stinsy]

If we can force/assist a coup in Russia by bankrupting the economy fair enough. Yet Russian folk are not easily cowed, hardship is in their blood. Yes to cutting off as much finance as possible to Putin but I don't think that will be enough. I have been wondering the last few days at how much Russian oil and gas is currently flowing to Kazakhstan for a quick rebrand..

Good on Europe though for doing what they can without self inducing another financial meltdown.

Sure the ordinary Russian is a resilient fellow with little need for comfort. However the few million middle class Russians have gotten used to a comfortable lifestyle over the last few decades. These people will feel the pinch very deeply and are the same people who can exert pressure on the political class (where do you think all the bribes come from).

I’m enjoying the squeeze and overjoyed that we’re taking the lead on this. Even if it does mean we’re burning a lot more gas that we would otherwise. However I’m still incandescent that Germany backed themselves into a corner where they were reliant on their actual f*cking enemy to keep their lights on, houses warm, and their precious industry producing.

[Ken]

In all of this it depends who we call "we" . For we the world,higher prices will help reduce demand and drive uptake of more/faster RE and reduce CO2.
I copy this from another site so to show another aspect of this war.
"We are burning gas like fury to feed the Interconnectors to Europe. Just a few spells when the flow is the other way and I guess that is down to freak consumption drop off and high renewables. We are also exporting gas via the Bacton - Zeebrugge interconnector and the BBL interconnector Bacton to the Netherlands at what seems to be full capacity, but exactly what that is hasn't surfaced yet.. To do that we need to import it and by Jove we are. A Q-Max, the Aamira has docked at Milford Haven carrying 260,000 m3 of LNG, It will take 36 hours to unload to be followed by thee Methane Mickie Harper from Peru on the 15th carrying a mere 167,000 m3 (but it has had to squeeze through the Panama canal).That is followed by the Stena Crystal Sky on the 18th carrying 170,000 m3, the Golar Celsius on the 18th and Methane Julia Louise on the 20th. Meanwhile at the Isle of Grain, the Marvel Heron carrying 177,000 m3 docks tomorrow from the States, followed by the Corcovado with 170,000 m3 due on the 18th. The Isle of Grain terminal is the largest in Europe but the Milford Haven terminal is currently handling more ships?

Both terminals are adjacent to CCGT power stations and the waste heat at IOG is used to regasify the LNG.

Of course this is a small unheard of contribution to the war effort"

I am proud of our gov/power industry in that we have one of the most if not the most resilent energy system on earth having many eggs in many baskets.