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Lo 08

Category: Gas


Mild winter helps to lower wholesale energy prices

mild-winter-helps-to-lower-wholesale-energy-prices

Wholesale energy prices here fell by nearly 18% in February as increased imports into the UK of LNG combined with mild weather continued to push prices downwards. However, the Vayu Energy Report shows that despite this substantial drop wholesale prices are still well up on a year ago. 


Vayu Senior Energy Analyst, Keith Donnelly said: “We are continuing to see...

Published on 26/03/2017

Gas price hike could have been greater

gas-price-hike-could-have-been-greater
The announcement of a 7.6% increase in the cost of gas for homes and small businesses in Belfast comes after a surge in the wholesale cost of fossil fuels on world markets.

The new tariff which has been approved by the Energy Regulator takes effect on the first of April.

It is the first hike in gas prices in Northern Ireland for four years. Th...
Published on 03/03/2017

Gas price hike prediction

gas-price-hike-prediction

Gas prices are being reviewed by the Energy Regulator and the new tariffs when they're announced will kick in at the beginning of April

We’ll know soon enough what the new costs will be but for what it’s worth here’s my prediction. It’s a very rough and ready calculation.

This time last year the price of gas for delivery this winter (2016) was abo...
Published on 23/02/2017

Regulator plays down role of exports in power price surge

regulator-plays-down-role-of-exports-in-power-price-surge
 The Energy Regulator has rejected a claim that exports of electricity to Great Britain have been a major cause in driving up the wholesale cost of power here.

In a note to enirgy.info detailing the background to the recent rise in prices, the Regulator says sales to GB have had only a marginal impact. Their analysis showed that exports were “responsible for setting prices ...
Published on 02/11/2016

Enquiry needed into rising cost of power

enquiry-needed-into-rising-cost-of-power

Since it first became clear that the wholesale price of electricity had markedly shifted upwards, explanations have been offered to explain the change.


Just to recap: the wholesale cost of power has been around £30 a MWh or 3 pence a kWh for many months. But in recent weeks it has jumped to £50 and even £60 a MWh hour. That’s the load weighted average price over an entire t...

Published on 30/10/2016

Electric shock

electric-shock

For those who keep an eye on the cost of energy, recent developments in the wholesale markets have raised a few eyebrows. Oil, gas and now electricity have been rising sharply in price.


For much of this year the wholesale price* of a unit of electricity remained around three pence but at the start of this month it climbed to four pence and then further upwards until by the ...

Published on 23/10/2016

Confused and contradictory energy policy

confused-and-contradictory-energy-policy
On those days when the sun is shining but the wind isn’t blowing, our wind turbines sit idle.
At ten thirty this morning wind farms were meeting just two per cent of our electricity demand. Filling the gap have been generators burning gas but also coal. Kilroot Power Station which uses coal has been supplying around forty per cent of our needs. That’s a vastly higher proportion than...
Published on 19/10/2016

New Belfast power station to reduce blackout risk?

new-belfast-power-station-to-reduce-blackout-risk
Evermore Energy, the company behind the proposed 400 MW gas fired power plant in the Belfast Harbour Estate, has told an influential House of Commons committee that it intends to be operating commercially by 2019 subject to planning and financing.

In a statement to the Northern Ireland Affairs Committee (NIAC), Evermore, which already runs a 16 MW biomass fuelled CHP ...
Published on 21/08/2016

Energy market generating new stories

energy-market-generating-news-stories
Perhaps it was the sunny weather but whatever the reason, there was quite a lot of energy news this week. And most of it was positive.

Topping the list was the revelation that the same brothers who have created a biomass power plant at Lisahally in Derry are planning a much bigger generating station in Belfast. Ciaran and Stephen Devine want to build a 400 M...
Published on 15/05/2016

Renewables expansion fails to stop greenhouse gas growth in Ireland

renewables-expansion-fails-to-stop-greenhouse-gas-growth-in-ireland

Despite an expanding renewables energy sector, total energy related emissions of carbon dioxide in the Irish Republic rose last year by almost four per cent compared with the previous year. In the UK emissions fell by just under three per cent. There is no separate figure for Northern Ireland.

Across the EU as a whole the EU statistics agency Eurostat estimates that carbon dioxide e...

Last updated on 11/05/2016

Wholesale gas prices to fall even further says Vayu

wholesale-gas-prices-to-fall-even-further-says-vayu
Wholesale gas prices have fallen by 40 per cent over the course of the last twelve months according to the latest Wholesale Energy Market Report published by Vayu Energy. The company which recently announced an expansion into Northern Ireland put the collapse in prices down to abundant supplies and suppressed demand.
 
The average day-ahead price for gas so far this A...
Last updated on 11/05/2016

Green energy accolade for Housing Executive manager

green-energy-accolade-for-housing-executive-manager
Longstanding Housing Executive manager Noel Rice has picked up the top prize at the Annual Action Renewables Association Awards 2016. He beat off tough competition to win the Outstanding Award for Work in the Renewable Energy Sector.

Here's the assessment of Noel's role presented to guests at the Action Renewables Awards ceremony in Titanic Belfast. 

"Noel has bee...
Last updated on 11/05/2016

Can the cost of power fall much further?

can-the-cost-of-power-fall-much-further
While electricity prices these days never present a static picture thanks to the entry of new suppliers, the landscape should be clearer when Power NI’s price cut comes into effect on Thursday, April 1.

The company, which still retains the loyalty of three in four of those households who pay for their power in arrears, will be cutting its charges by just over 10 per c...
Last updated on 11/05/2016

Lower prices for gas and electricity

lower-prices-for-gas-and-electricity
The cost of gas and electricity is set to fall as regulated suppliers review their costs.

Power NI started to examine its tariff before Christmas. It's understood that the company which has over half a million domestic customers will announce its new prices in February. They will come into effect at the beginning of April.

Last year the company cut its rates by just over 9 per cent. ...
Last updated on 11/05/2016

Wholesale cost of energy drops to new low

wholesale-cost-of-energy-drops-to-new-low
The firmus Energy Index touched a new low in July as world markets continue to be swamped by a surplus of oil. The Index, which tracks wholesale fuel prices in Northern Ireland, dropped to 74. That’s the lowest figure recorded since the benchmark was launched over five years ago. 

Brent crude ended July at just over 52 dollars a barrel following a 17 per cent pri...
Last updated on 11/05/2016

Wholesale energy prices near six year low

wholesale-energy-prices-near-six-year-low
Continuing weakness last month in the global oil market has moved the firmus Energy Index close to a six year low. The widely regarded measure of Northern Ireland wholesale fuel costs fell by four per cent to stand at 84 in June. 

Oil prices had been recovering recently amid good news about the US economy but the economic crisis in Greece helped reverse the trend...
Last updated on 11/05/2016

Wholesale energy prices nudge downwards

wholesale-energy-prices-nudge-downwards
In a change from the norm, gas rather than oil decided the direction of wholesale energy last month.

A steady stream of imported LNG (Liquefied Natural Gas) helped drive the firmus energy index down by four per cent which now stands at 87.

The cost of oil, which has been seesawing since the start of the year, eased by just one per cent. It appears the recovery in prices from ...

Last updated on 11/05/2016

Price puzzle

price-puzzle

The cost of gas, which is the main fuel used by power stations, has dropped year on year by about 20%. So why is the price of electricity coming down by just 5% as evidenced by the Budget Energy announcement?

Put plainly, wholesale fuel costs are a significant component of the bills consumers pay but they are not as important as many people might imagine.

A report publis...

Last updated on 11/05/2016

Local energy firms rated by Which

local-energy-firms-rated-by-which

Budget Energy has emerged on top in a customer satisfaction survey conducted by consumer organisation Which.

The North West based electricity supplier scored 61 points, significantly ahead of its rivals. 

Gas supplier Firmus came second with 53 followed by SSE Airtricity on 51 and Power NI on 48.

The figures were based on customers’ overall satisfaction combined wit...

Last updated on 11/05/2016