Nowty Towers Vs UK Grid Storage

[Joeboy]

I was looking at the current market prices, as you can't see photos, I'll type it.
Current leccy wholesale price is around 15p / kWh.
Year ahead price is 47p / kWh.
But front quarter price (when Europe is at highest risk of running out of gas) is 83p / kWh.

https://marketwatch.zenergi.co.uk/price/17-10-2022/

1.91p per kWh gas right now....how is that possible? Was the price driven up by national reserve stocking across all EU states and now they are topped off?

Was in the news yesterday:
https://www.tankstoragemag.com/2022/10/ ... in-europe/

Multiple ships carrying liquified natural gas (LNG) are collecting off the coast of Spain, unable to secure slots to unload. The situation has prompted grid operators to warn they may have to suspend loading while they deal with the ‘exceptional situation’.

As the region attempts regasification of the LNG cargo, this situation has laid bare the limited capacity of Europe to do so. Plants that can convert the liquid fuel back to gas are currently operating at maximum capacity. If the current issue is not resolved quickly, the ships may need to look outside of Europe to offload their cargo.

There are more than 35 LNG-laden vessels off the coast of Spain, with at least eight of them anchoring off the Bay of Cadiz alone. There are also other LNG vessels anchoring near other European countries, which could mean dozens more are waiting for a slot.

Spain is offering only six slots at its regasification terminals this week, and only has six terminals in total.

In a statement issued late on Monday, Spain’s national gas grid operator, Enagas, said it may have to reject unloads of LNG due to overcapacity at its terminals. It added that the issue could remain until, at least, the first week of November.

Thanks AE, an 850% discount over Go window... Bloody hell!

[AE-NMidlands]

Thanks AE, an 850% discount over Go window... Bloody hell!

It still doesn't add up for me though:
No Russian (compressed) gas arriving in Europe through pipelines
Norway short of RE so unable to export gas
WE are exporting gas as much as we can
Replacement LNG(/LPG?) needs regasification to be used in mains networks, plants to do this limited in capacity all across Europe because of low historic need

So how is there an actual surplus of gas in our mains?

[Oldgreybeard]

I believe that the UK has a surfeit of re-gasification capacity at the moment (gas demand still fairly low). Places like Milford Haven and the Isle of Grain are running flat out, taking LNG, re-gasifying it and pumping it into UK pipelines, where much of it is being exported to mainland Europe (and, I think, Ireland). The net result is that the UK currently has a surplus of gas in its network. That will most probably change come the winter when demand increases to match the existing re-gasification capacity at the three terminals.

[nowty]

1.91p per kWh gas right now....how is that possible? Was the price driven up by national reserve stocking across all EU states and now they are topped off? I wonder if Putin will see Spring 23?

Crazy aint it, gas is 2.07p / kWh today in the South, but I've still no use for it.

I'm hoping the risk of running short of gas is being overhyped and in the end, Puitin's trump card becomes a joker.

[Bugtownboy]

Perhaps planning has expected CH to be turned on in October. The current spell of mild weather and householders reluctance to use gas has resulted in a temporary surfeit.

Sure things will change as temperatures do fall.

Hopefully, with storage being filled and reduced usage, it will be a collective European FU to Putin.

[Oldgreybeard]

It's worth remembering that Russia is only a part of the problem with gas, I think. We had an energy crisis, with massive increases in gas pricing, before Russia invaded Ukraine. Cause seemed to be increased demand for gas from the growing economies of the Far East, where they were willing to pay more to get gas shipped there than the rest of the world. The April 2022 price hikes were largely driven by this shift in the world energy market, rather than the war in Ukraine.

[nowty]

https://www.bbc.co.uk/news/uk-scotland-63402811

Thats my experience too.
Monthly bill now zero and maybe forever (within my lifetime).

[Joeboy]

https://www.bbc.co.uk/news/uk-scotland-63402811

Thats my experience too.
Monthly bill now zero and maybe forever (within my lifetime).

Have ye moved? I read about that pub the other month. Quite a walk in apparently.

[nowty]

Have ye moved? I read about that pub the other month. Quite a walk in apparently.

I read about that place many years ago and looked on google maps, a two day walk and does not look like an easy walk either. A property came up for sale a few years back, I think someone on the old forum might have pointed it out. When I showed SWMBO the sales pictures she wanted us to move there.

But when I showed her what's involved with getting there, and especially for her retail therapy shopping trips, she replied, "not really".

[Oldgreybeard]

You can get the pedestrian ferry from Mallaig to save the long walk in. We spent a day there, many years ago, and the ferry trip to Inverie wasn't too bad. Probably not great in bad weather, but the day we went across was fine as soon as the ferry got out of the Sound of Sleat and around the corner into Loch Nevis.