UK Heating Gas Prices Spike To 2013 Highs Amid Weather "Yellow Warning"

The U.K.’s Met Office issued a ‘yellow’ warning after dumps of snow over the weekend disrupted travel, sending the price of same-day heating gas prices to their highest since 2013...

The average temperature in the U.K. for the rest of Monday will be 1 degree Celsius (34 Fahrenheit), compared with a 10-year average of 5.2 Celsius, according to Bloomberg’s weather model. 

Bloomberg also notes that supplies in the system could plunge 11 percent by the end of the day, according to network manager National Grid Plc. Supplies from the Bacton terminal in Norfolk are below the 10-day average after Total SA said exports from the Elgin Franklin field that feed it have been reduced by about 60 percent from normal levels, potentially until Wednesday evening. Flows into the St. Fergus terminal in Scotland also plunged. Storage supply picked up some of the slack, rising to the highest since Dec. 1.

“Whilst the weather-related heating demand was expected, the reduction in flows via a number of terminals was not,” Nick Campbell, an energy risk manager at Inspired Energy Plc, said by email.

“Therefore this has left the system tight and battling to pull in more gas from the continent.”

Comments

AlphaSeraph Mon, 12/11/2017 - 12:01 Permalink

That is the least intimidating chart I've ever seen in my life. Seriously, the prices are seasonal and cyclical and look at how consistent they are on that graph. It's fucking ground hog day as per that chart.

Wile-E-Coyote Mon, 12/11/2017 - 12:02 Permalink

This winter shaping up to be like 2010 in the UK, a bitter one; coincides again with the solar cycle minimum. Arctic ice growing again bucking the trend.Predicted -12 Deg C tonight in the Midlands, that's cold for the UK.

NoWayJose Mon, 12/11/2017 - 12:11 Permalink

I found it curious that oil rose at the end of last week - the WTI numbers and rig count were bearish. Oil and oil stocks continue to surge - and by 'magic' - we get pipeline cracks in Scotland, warnings of a 'real' winter hitting the UK, Nigerian worker strikes, etc.

400K is a drop in the global bucket. There is so much natty gas they are giving it away.

Wanna bet this 'rally' ends soon - as low seasonak demand takes hold?

MR166 Mon, 12/11/2017 - 12:58 Permalink

Huuummmm, there will be potential nat gas shortages if the winter is a bad one eh.  Perhaps they should not have shut down all of those coal powered electric generating plants in favor of the gas powered ones.  Green Utopia strikes again screwing the poor workers.

abgary1 Mon, 12/11/2017 - 14:36 Permalink

We are presently in an interglacial temperature peak which will not last.Combine that with a Maunder Minimum and it is possible we are heading into a cooling trend and possibly an ice age.Is it possible the global temperature rises first? Yes but it is more likely we will get colder.How much colder it wil get and when is unknown because of the compexity of our climate.Please read Human Caused Global Warming by Dr. Tim Ball and The Chilling Stars:The New Climate Change Theory by Svensmark and Calder. Co2 is not a GHG and does not cause global warming regardless of what the UNEP (IPCC, CRU) NASA say. Co2 facts:-manmade Co2 is 0.003% of the atmosphere and it is impossible for that small amout of gas to impact the climate.-the average co2 level for the last 300 million years is 3 times higher than present-a correlation between temperature and co2 exists but it is temperature that rises first followed by the co2 level.-An attempt was made to melt ice cores that disprove the global warming theory which are stored at the Unvirsity of Alberta, Edmonton, Alberta, Cananda.-The UNEP has set climate research back 40 years.-We need temp., precipe and water vapour data more than we need computer programs that basically model nothing.-The temp. data we have is from urban centres which distorts the averages.-We have no data from the mountains, forests, grasslands or deserts.-The climate is driven by 6 factors and is interconnected by 23 systems that we do not understand because we have no data. To claim that climate science is settled is beyond laughable. We have barely begun the journey of discovery. 

not dead yet Mon, 12/11/2017 - 15:43 Permalink

Until recently the warmist scientists claimed there was no such thing as the urban heat island effect raising temps in urban areas until they couldn't deny it anymore. They knew there was but didn't want to admit it as it cast doubt on their agenda. When there was too much evidence proving the effect they caved and admitted it. Rather than move their reporting stations, many of which buried in cities or next to heat sources or blacktop roads and parking lots, they are "adjusting" for the effect. They're adjusting all right, they have been caught adjusting the temps UP while adjusting past temperatures down to make it look like runaway warming.