On the 23rd of February it was reported that one of the large six utility companies in the UK lost £172.5mn, in just three months, by trading a gas position. This loss could have been against a background of relatively low gas price volatility; presumably this “increase in wholesale cost” will now be passed on to end consumers? Who trades and who pays? Who invests and who pays? The new Energy & Climate Change Committee is today taking oral evidence from the Secretary of State for Energy and Climate Change, Rt Hon Edward Miliband MP, in the House of Commons in London. The independent Global Energy Advisory White Paper entitled: Investment Failure, Fails Customers, was circulated to the Committee earlier this week.
The paper discusses the potential risks to UK energy security which are well known within the Industry. It also asks pertinent questions regarding the costs and consequences of the energy investment/trading decisions being taken at the current time.
This discussion will be continued at the Global Energy/Advisory Super Derivatives Seminar in London on March 5th
Details of the seminar are:
Date: Thursday, March 5th
Time: 11.30am – 1:00pm
Venue: Floor 33, 30 St Marys Axe (The Gherkin), London,