Friday, December 02, 2005

Market Security and Profit

In the warm weather - as one would expect - demand has gone down. However, people are still taking gas from storage rather than via the interconnector or LNG. As a student of markets I presume it is because the notional historic price of the stored gas is "lower" than that of the gas brought in.

What is "rational market behaviour" for participants substantially undermines the UK's energy security. I have sent a note to Malcolm Wicks about this. (and Ofgem)


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