Resonance – Alfa Energy Group's Podcast

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Dan Veasey as we see extreme heat in Southern Europe. Topics explored include:  Not much response in pricing to extreme heat, although there is some reduced capacity of the French nuclear fleet.Demand has increased in southern Europe, but there is significant renewables generation to counter that right across Europe.The variability of renewables and the impact on the management of grid.Norwegian gas production increases following the return of a major processing plant. Further maintenance lies ahead next month.LNG drops, but meets demand and storage is expected to be at capacity going into winter.However, any significant cold snap or supply disruption still presents a real risk for both winter and next summer, especially with LNG demand in Asia picking up.The threat to remaining Russian gas supplies.Listen to the latest episode of the Resonance podcast.  This episode was recorded on 18th July 2023.

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Henry Homer as we return to equilibrium, but the fragile balance of supply and demand is causing challenges across Europe. Topics explored include:  We return to equilibrium, but hydro and nuclear capacity remain a risk.Renewables have improved and softened markets, but being intermittent present a challenge to stability without the appropriate storage technology to better manage grid supply.Demand destruction is coming to the fore, with natural gas demand in May 23 25% down on average across EU member states, compared with the average for May between 2019-21.What does the new European normal look like? What would a difficult scenario mean for prices in Q4 2023?Listen to the latest episode of the Resonance podcast.  This episode was recorded on 7th July 2023.

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Dan Veasey discuss the market implications of Europe reaching full storage capacity by the end of summer, as well as the potential impact of unexpectedly mild weather.Topics explored include: Short term spike on mutiny news, but no fundamental changes to gas flows from Russia.Intra-day volatility has returned somewhat, driven by supply constraints. E.g. Extension of maintenance at a gas processing facility in Norway; expected to be resolved in July. We're not back to end of June price lows, but far from way off highs at time extension was announced.Gas storage good in Europe – stores 76% fullInflation and high interest rates may have a marginal impact on forward pricing due to less demand for commoditiesCoal generation still on track to be phased out, despite requirement for baseload powerConcerns about renewable energy supply chain, as with rest of energy sector, new wind perhaps more expressive than expected and CODs not attractive enough to drive new generation development. Skills gap may also need to be filled.The Dutch government has confirmed that the Groningen gas field will close in October, mainly due to earthquake issues in the area.It is expected that US LNG cargoes will increase over the next few months, which will help boost storage.With storage close to capacity, if we don't see an increase in demand going into September and the weather is milder than expected, the markets will adjust to encourage demand or reduce production. However, further unplanned outages, extreme hot weather, and nuclear outages in France could of course affect this situation.This episode of the Resonance was recorded on 27th June 2023.

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Henry Homer about why Europe is not out of the woods on energy price concerns. Topics explored include: Complacency reigns following the price plunge, as gas price spike highlights market risks.Focus on structural dangers to manage price risk.Storage in Europe is not up to the challenge of a cold winter.The recent spike caused by minor issues only – extended maintenance in Norway and demand from Asia.Renewables are supporting the market, but intermittent production due to weather creates a volatile market. Policy and contract length to provide adequate baseload is weak across Europe – a shift is needed to manage price volatility during the transition to a low carbon economy. Watch out for nuclear production, hydro and LNG demand in East Asia as we head towards Q3 2023.While German industry is concerned about a cut in remaining Russian gas supplies.This episode of the Resonance was recorded on 20th June 2023.

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Dan Veasey about the return of energy market price volatility. Topics explored include:  Power market balancing met by coal generation with nuclear reactors offline and demand increases with warmer weather. Reductions in LNG arrivals indicates a general slowdown of deliveries as Asia becomes a more attractive destination. Volatility returns after months of falling prices. The state of the global economy puts downward pressure on oil prices. Despite plans to diversify supply generation for power, a huge reliance of gas remains while storage technologies are developing to meet the needs of intermittent renewable generation.  This episode of the Resonance was recorded on 13thJune 2023. 

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Henry Homer about the relative calm we are experiencing, and why it is at risk as we head into the summer months.Topics explored include:A price plunge, but what next for Europe?What about carbon given its volatile past?Why persistent structural risk puts the relative calm in jeopardy.Demand destruction in Europe due to lack of supporting policy.Supply availability while good at present, is countered by higher supplier margins – more so in Europe than the UK.Across Europe the percentage of commodity costs has increased relative to non-commodity costs:Management of commodity costs has once again become an important feature for good delivered energy prices.Will this trend continue with the potential to make Europe attractive for industry once more?If you haven't already, why you should be looking to tender your supply now.This episode of the Resonance was recorded on 6th June 2023.

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Dan Veasey as near-term energy prices continue to fall, the risk to LNG supply from the US and demand from Asia arises.Topics explored include:UK renewable assets lower demand for gas, seeing exports to Europe where prices are at a premium.Responding to falling LNG prices, Asian buyer demand tentatively returns to the market.If prices continue to decline the US may reduce LNG shipments.Structurally the UK and Europe may remain uncompetitive for manufacturing for some time.This episode of the Resonance was recorded on 30th May 2023.

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Henry Homer as prices fall, discussing the innate risk of a single source of supply for gas. Topics explored include: Structural issues effecting European markets remain. The 3 pillars – weather, LNG and storage. TTF prices falls, but only for near term spot and month ahead purchases. LNG remains structurally more expensive, while east Asia switches to alternative supplies, for now. Will that change when LNG prices reach a pivotal level?  Water levels are a cause for concern ahead of August, reflecting on the peak of prices last year. When not to tender as risks lie ahead.  For details of the discussion, listen to the latest episode of the Resonance podcast below.  This episode of the Resonance was recorded on 23rd May 2023. 

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Daniel Veasey as prices soften ahead of the summer.  Topics explored include:  Softening of near-term pricing while winter prices hold. Economic data impacts oil prices, despite OPEC cuts. With LNG delivery at record levels, do falling prices risk supply being diverted to Asia? While supported in recent weeks with increased rainfall and wind power generation, sensitivities around the impact of a mild winter on hydro remain. If the Russia and Ukraine war escalates, risk remains over LNG supplies to Europe. As energy prices in Europe fall, is a recovery in industrial demand underway? UK energy intensive industries are advised to explore government support now.  This episode of the Resonance was recorded on 4th May 2023.  

In this week's Resonance energy market podcast episode, as markets plateau, Jeremy Nicholson talks to Alfa's Henry Homer about the structural dangers that remain and the risk of a rapid return to higher prices.  Topics explored include:As we enter Q2 we see a more supply-based market where equilibrium is returning.Joint European energy purchasing raised during the height of the energy crisis subsides, for now. With shocking prices over the energy crisis, many buyers wonder if they should wait or move now on contracts, prices, and where. A supplier market remains, but what does that mean? Recent articles in the market press talk of gas oversupply, but what does the fragility of Europe's gas balance mean in terms of the risk of a rapid return to higher prices? Supply issues from Norway and France discussed in previous episodes persist, creating uncertainty across Europe, an issue compounded by nuclear generation in Germany being consigned to history.This sees a huge reliance on LNG, intensifying risk between now and 2025, sustaining premiums in prices at least until then. This episode of the Resonance was recorded on 20th April 2023.  

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Daniel Veasey about the recent volatility in energy markets and what that might mean for the remainder of 2023.   Topics explored include:Banking crisis triggered a sell-off in oil, followed by OPEC taking the market by surprise with planned cuts in production Power and gas volatility caused by French strikes and cold weather in the short-term A warning of big swings in prices over the next 6 months Maintenance season to begin with concerns over the likelihood of French nuclear returns Gas storage injection season is expected to be comfortable with LNG deliveries supportive for now, but dynamics could change quickly Risk remains, including: the potential for demand from Asia; drought warnings across Europe; the potential for a lack of wind, and of course; the Russian/Ukraine conflict   This episode of the Resonance was recorded on 4th April 2023.  

In this week's Resonance energy market podcast episode, Jeremy Nicholson talks to Alfa's Henry Homer about energy markets, the current equilibrium, and the supply risks ahead in 2023.  Topics explored include: Weather, storage and LNG find a new equilibrium for European prices, for now. A lack of snow and rain brings challenges for Europe's hydro power. Considering the impact of the French nuclear fleet had on the dramatic fall in prices, what does the state of an aging fleet mean for European power prices? Does the reliance on LNG mean high prices for gas will become the norm? What does that mean for operations in Europe, when competing with other world regions? Is there a risk to LNG prices from Asian demand? This episode of the Resonance was recorded on 23rd March 2023. You can read more about this topic in our article "What does the state of French nuclear plants mean for European energy prices?"

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Daniel Veasey about energy prices today and ahead, with significant falls in prices of gas and electricity over the last 6 months.  Topics explored include:The impact on risk premiums - Storage at record highs across Europe for the time of year, demand destruction, energy efficiencies and strong LNG supplies contribute. European energy prices remain high in the global arena, impacting business competitiveness. Despite the cold snap in northern Europe and a tightness in power generation, there is little impact on power prices as we head towards the summer season. Carbon remains high and on the increase, testing technical levels. Risks for the immediate future: Asian LNG demand, the nuclear fleet in France, Russian supplies to Europe when considering LNG volumes, and the impact of hot summers on power generation with multiple risks from droughts across Europe.  This episode of the Resonance was recorded on 9th March 2023.  

For our first Resonance energy markets podcast of the year, Jeremy Nicholson talks to Nicola Pollard, Energy Markets and Risk Manager at Alfa Energy Group, about the extraordinary events of 2022, looking ahead to 2023 and beyond.Topics explored include:Storage and market mechanism issues, tensions and the subsequent invasion of UkraineGovernment market interventions across the UK and Europe and the energy crisis pushing prices to unsustainable levels for business operationThe need to focus on security of supplyLNG, a saviour to supplies in 2022, but at what cost and what issues need to be considered for 2023?The environmental impact of the dash for coal in EuropeWeather provides further relief for winter, but will investment in strategic storage push up prices?Energy remains a strategic procurement to manage risk and ensure appropriate governanceSupport for business from government in 2023

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about European energy markets and pricing, aspoliticians signal intervention in the energy crisis.Topics explored include:OPEC+ send a signal to the market as prices have fallen since June.Volatility reigns as political intervention talks are planned.The reality of the challenge facing businesses is essential to address now to avoid economic catastrophe.What about carbon as the crisis is fought with increased fossil fuel generation?How does the new UK government manage the current crisis, without derailing the flagship net zero agenda?

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK energy markets and pricing, as gas prices reached 11 times higher than a year ago.Topics explored include:The simple truth is there is too much demand and not enough supply.Wholesale gas reaches levels 11 times higher and electricity 9 x higher than 12 months ago.There's a limit to what can be done on supplies.Germany remarks that NS1 coming back in any meaningful way is a pipedream.Will September see a relief to the vacuum of pricing over the holiday season?

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about European energy prices, as Russia announces fresh short-term maintenance on NS1 and the market reacts.Topics discussed include:Markets are through the roof following unplanned maintenance of NS1What might happen to prices if NS1 gas flows return80% gas storage levels across Europe are still expected to be metCarbon tested highs in early August, but is now retracing due to lower industry demandGerman industry at risk due to lower gas supply as minister questions relieving sanctions

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden, Head of Energy Markets and Risk Management, about the current energy crisis being one of price more than storage.Topics explored include:6-month low for Brent crude and other commodities.Oil refinery data suggests Chinese growth is down whilst OPEC and the IEA differ on outlooks for the balance of 2022.Property crisis in China likely affecting demand.Surge in LNG deliveries to the UK and Europe.Gas flows continue to trickle in through Nord Stream 1.Gas storage at 86% in France, 77% in Germany and Italy. 19 days till EU's -%+ storage target is met, albeit at great cost.Rising risk of default with delivered costs approached £1/kWh.Reliant on Russian gas for some time to come - no quick solutions via electrification of heat, more renewables, energy efficiency, or production of own gas.

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about European energy prices, as the storage milestone for gas is expected to be met in early September.Topics discussed include:Oil is weaker due to economic data, while supply interruptions have disturbed the fundamentalsCarbon in Europe will continue its run till around mid-SeptemberNo changes to gas supplies in recent weeks, but low liquidity and carbon is pushing gas higherWhat might happen in Europe when 80% of gas storage is expected to be met in early SeptemberPositive market news as new US gas exports expected ahead of winter, Germany indicates extending nuclear fleet use, EDF to keep French fleet running during heatwave to avoid blackouts, and a new nuclear plant in Finland begins operational testing 

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK energy prices, as we look at the current market situation and consider the winter ahead on prices, the economy and security of supply.Topics explored include:UK NBP gas prices at a 25% discount to Europe.No business in Europe can sustain current prices, even if currently comfortably hedged - will production switch to UK operations?Suppliers prepare for tough period ahead as unsustainable prices continue, a policy vacuum persists while politicians take time off to holiday, and recession looms.Security of supply paradox for the winter ahead – supply will be available, but it might not be affordable.

In this week's Resonance energy market podcast, Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the continued challenges of gas flows into European energy markets and where there is value to be secured.Topics discussed include:Nord Stream gas flow resumes but at significantly reduced ratesYear-ahead gas prices reach new highsUK considering an increase in export capacity to EuropeLNG imports to UK reduce as exporters take advantage of higher pricing in EuropePower spot price in Germany hits 500 euro/MWh: although high, might provide some value if gas imports remain tight or other issues arise going into winter.Wind output remains under seasonal norms. Small uptick for Germany; nothing that will help prices significantly.15% reduction in gas usage agreed by most EU countries. This will lead to more coal being burned, therefore higher power costs and carbon emissions.Some manufacturing companies already curtailing production due to high gas and power prices.

In this week's Resonance energy market podcast, recorded on 20th July, Jeremy Nicholson talks to Alfa's Jason Durden about UK energy prices, as the market mulls NS1's awaited return and gas demands from Europe. Topics explored include:NS1 down for maintenance as markets ponder if flows will return this weekUK awash with gas as we export to Europe with it's target to meet 80% storage capacity ahead of winter in perilEDF expected to return to 100% state ownership as France makes the first move of European nations to do soThe most difficult winter since deregulation ahead as we consume more gas and even coal in summer to underpin power generationOil still rangebound in price moves with the real challenge being in refining enough product

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK energy prices, as the market talks of worst-case scenarios and hope looks for a mild winter ahead.Topics explored include:Oil remains stuck and while higher prices today aren't exceptional, the backdrop is one of outlook vs near term supply. Product prices become a hot topicGas prices surge ahead of Norwegian strikes that will impact UK supplies, with the Norwegian Government questioning such action during an energy crisisConcern of the impact of costs on manufacturing, in particular where there are continuous processes that can't simply be turned off, or managed, to reduce impactPower simply reflects fuel input costs such as gas, carbon and coal, and there is no good news hereUK still exporting significant volumes of power to France, a nation in crisis with its nuclear fleetThe reality for UK energy users and suppliers is that due to the market structure we are less likely to feel the instant disruption that France and Germany face, but at what cost

In this week's Resonance energy market podcast, Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the continued challenges of gas flows into European energy markets and where there is value to be secured.Topics discussed include:European LNG imports impacted and Nordstream flows have droppedIf supplies don't return following maintenance, we look at what it means for gas pricesGas demand moderation requested in GermanyOil prices are rangebound, driven by headlines and propped up by increasing demand from ChinaCarbon is also rangebound following ETS reform approval, with upside movement expected due to coal demand this winterSpot prices for power remain high, while the curve shows significantly better valueThe winter ahead should not be your main concern

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK energy prices, as gas supply issues for the winter ahead are a cause for real concern.Topics explored include:Oil supply tightness remains with challenges due refining capacity becoming more prevalentGas sanctions on Russia starting to impact supply of gas into Europe as dependence starts to show, with a very tight winter ahead expected and limited options to diversifyPoliticians simply not addressing inflation which is largely driven by energy matters

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the challenges of gas flows into European energy markets, while carbon pricing awaits decision on market reform.NOTE: Since recording the podcast on 15.06.22 and prior to publishing today (16.06.22),  the CAL-23 TTF contract posted a new historical high.  Front year European power contracts increased but didn't breach the April peak.Topics explored include:Gas export issues from the US and NordstreamGas in storage expected to reach 80% across Europe in Q3, despite challengesLNG cargoes offshore await a potential price war, with Europe more than ever exposed to spot market pricingOil has become more volatile in recent weeks, responding to mixed signalsCarbon is rangebound, waiting and watching the European Parliament's decision on ETS reformWhile no French nuclear fleet outages occurred following the first heatwave this summer, low river levels are a seasonal concernWind generation across Europe is low, while solar remains highWe look to the winter ahead and what might happen to prices

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK energy prices, as gas dominates UK power generation and exports of LNG to Europe endure.Topics explored include:Oil sees supply tightness which doesn't bode well for winterUK LNG imports flow as we export gas unabated to Europe whilst our neighbours replenish storageGas supports 65% of UK power generation and keeps prices highCarbons markets nervous as Fit for 55 is in front of the European ParliamentNo UK climate change policy shift expected following the outcome of the UK's PM vote of no confidence

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the continued impact of the Russia-Ukraine conflict on European energy markets. Topics explored include:Oil price surges (now hovering around $125/barrel), mainly driven by EU's decision to ban Russian imports into EuropeGas prices remain fairly range bound but volatility expected on thin trading volume due to bank holidays, drop on Nordstream 1, and proposed cut off of Russian gas to Holland.Decoupling of UK and continental gas prices (UK storage stocks high)Western Europe's transition from Russian gas will take years11th July – volatility expected: uncertainty around whether Russian gas flow Ukraine or Poland during the maintenancePower – lower demand due to holiday demand coupled with high nuclear and wind generation, pushed German SPOT to lows not seen for many months.Nuclear generation outages in France driving power prices higher in the short term

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK gas and power prices, forecast demand for fuels, and other global impacts on our local energy market commodity costs and security of supply. Topics explored include:UK gas commodity prices move to levels not seen since before the invasion of UkraineGlobal fuel demand set to rise as China comes out of hibernation and the US driving season beginsThe UK also continues power exports to France as its nuclear fleet remains a challengeSolar is delivering significant volume and while the highs of recent wind power generation return to normal, it continues to deliver expected volume at presentGlobal leaders meeting in Davos highlights the many challenges faced, comprising of inflation, food poverty, climate change, and the energy crisisMeanwhile, the EU has signalled it will attempt to take the pressure off carbon prices, where politicians can alleviate pressure created by policy ahead of the coming winter

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the continued impact of gas prices on European energy markets. In this week's Resonance:Gas prices fall into double digit figures, but the pressure is still on the market due to demand on storage replenishmentVolatility and increased risk highlighted by cut off of supplies of gas to Poland, however compromise over payment to Russia by major European states appears to have been reachedPower generation sees French nuclear fleet being the major risk for the summer 22 period, and carbon prices are picking up againIncreased fossil fuels like coal will support carbon prices while Europe seeks gas supplies to replace Russian gas in the short termA mixed approach to nuclear phase out in the face of the current situation sees some European nations consider postponing the phase out of existing plant while the region tackles the challenge of security of supply and cost of energyMeasures European nations are taking to assist with higher costs and security of supply and what that means for decarbonisation and future costs

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about the glut of gas entering the UK market and its impact on near term prices, in contrast to the challenge winter poses. In this week's Resonance you will learn:A short-term respite for manufacturers on the right flexible contracts and strategy?While gas day ahead sees a collapse in prices, the truth is next that winter is set to be a challengeA similar spread is seen in UK power, with healthy exports to France which is facing significant challenges with its nuclear fleetPrices on the power curve also indicate concerns over capacity of UK power markets for next winterCarbon also shows a fair amount of swing, but remains a political market and toy for investors – Europe as a continent is currently using more fossil fuel and will do as alternatives to Russian gas are sourced which means more carbon price support due to this unexpected demandHaving talked about inflation coming a year ago, we see today that reality coming through and the challenge it is presenting for businesses, consumers and short-term commodity costsEurope stockpiles Russian coal ahead of an expected winter ban, with questions raised over the ethics from a political as well as environmental perspective

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about the UK energy markets and what lies ahead for summer months. In this week's Resonance you will learn:Oil seesaws in the wake of supply and demand side concernsWhy we have seen lower wholesale prices in the near-term marketsVolatility remains a prominent feature in an illiquid marketWhat restocking of gas storage means for the summer months, ahead of next winterSecurity of supply remains the priority, as geopolitical challenges endureWhy current circumstances strengthen the case for decarbonisation of our energy system

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK energy markets and the impact of removing Russia from the energy mix. In this week's Resonance you will learn about:High energy prices cause a recessionary outlookVolatility remains a feature as geopolitics attempts to restructure marketsWhy removing Russian oil and gas from European supplies impacts UK pricesWhy challenges faced by the French nuclear fleet impact UK power supply and pricesWhy a divergent market is at play as we look ahead to 2023

In this special edition Resonance energy market podcast episode Jeremy Nicholson talks to Alfa Energy's Karin Corbani about the significant changes to taxes and other charges, introduced by a number of countries across Europe, to help mitigate the impact of rising energy costs in the region.In this edition of the Resonance you will learn:Germany cancels EEG renewable energy levyItaly system charges nullification continues into Q2 of 2022The need to ensure savings are passed through by suppliersThe importance of keeping up to speed with non-commodity costs with frequent changes to the cost benefits that can be achievedWhy non-commodity costs and their optimisation have never been more important

Alfa Energy Group's Chairman, John Hall, discusses the escalating energy crisis against the backdrop of a climate crisis in our latest podcast with Corporate Affairs Officer, Jeremy Nicholson.

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr. Petra Puskarova about the impact of record carbon prices on European energy markets. In this week's Resonance you will learn about:While anticipated, the rise in carbon prices are a cause for concern across Europe. Driven up by high coal burn, we discuss when demand could abate and if there will be an intervention.The LNG picture outlook remains strong and storage similar to previous reports, although winter has not been challenging for demand. However, US voices are questioning overseas suppliers when domestic issues could be addressed.Challenges with the French nuclear fleet remains a significant issue for European power which could continue into 2023, while wind makes a welcome return to relieve generation issues.

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr. Petra Puskarova about European energy markets as geopolitical tensions see energy prices remain challenging. In this week's Resonance you will learn about:Gas – price increases due to political tension related to Ukraine. Europe remains an important customer for Russian gas for now, but plans afoot with Asia could see that position change.LNG – Supplies are good for now but it's important to watch shoulder months because of demand from Asian markets. Less gas storage this winter, but demand is lower. Summer gas storage will also likely be as low as last year.Gas and Nuclear Taxonomy as Europe debates the status of sustainable low carbon transition fuels for power.                        - France naturally backing nuclear, despite challenges with fleet of power                           stations and the impact on prices.                       - Germans are looking to gas as a transition fuel to a lower carbon economy.                       - Surprisingly Spain is opposed to gas despite generation still being at c40%                           and dependence on LNG increased after Algerian pipeline via Morocco went off.Carbon – The pressure is still on as coal remains popular. The risk remains on the upside to push European power prices to new highs.

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about the UK energy markets, as a large volume of LNG delivers to balance demand and supply, but at what cost. In this week's Resonance you will learn about:Hedge fund and speculative activity picks up in oilSupply and demand for gas and power in the UK as winter takes hold and what it meansInterconnector capacity limits impact the import of power, exacerbated by issues with French nuclear productionBig demands on fossil fuels expected as short-term issues with transitioning to lower carbon generation are brought to bearWhat this all means for energy pricing, inflation and interest rates as investors seek a safe haven

In this special edition Resonance podcast, energy veterans, John Hall and Jeremy Nicholson, reflect on what has been an extraordinarily turbulent year for energy, whilst also considering the future taking into account the global pandemic, Brexit and worldwide Net Zero ambitions.This podcast was recorded in December 2021.

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Dr. Petra Puskarova about European energy markets, as prices remain and are forecast to remain high across Europe for now. In this week's Resonance you will learn about: LNG into Europe helps to stabilise gas prices The odd but interesting outlook for gas prices across the remaining quarters of 2022The astonishing peaks in power prices seen in France as levels begin to normaliseGermany's continued phasing out of nuclear power questioned amid a supply crunchThe significant carbon sell-offWhen we might see deliveries through NordStream 2 and political battles persist

In this week's Resonance energy market podcast, Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the energy price complex across Europe and what this could mean for prices as we head towards 2022. In this week's Resonance you will learn:Challenges of Russian flows and NordStream 2 realisation, despite higher volumes through routes such as Ukraine.Energy intensive users respond by shutting production due to high prices.Uncertainty over supplies is creating real challenges for energy buyers where already high prices and volatility have seen prices escalate further due to cold snaps.Oil prices plunge as the threat of a new Covid variant is confronted.Carbon hits new record highs and enters a new trading range.Considering all the above we look at similarly volatile power prices and ahead to what prices may reach in Q1 2022.

In this week's Resonance energy market podcast Jeremy Nicholson talks to Alfa's Jason Durden about UK energy markets and the outlook for gas supply security this winter.In this week's Resonance you will learn: Oil causes political pain and the potentially counterproductive responses attempting to reduce pressure.The risks to supply this winter for gas as we deliberate whether the margins are manageable.Is LNG simply arriving because the price is high or are shipping challenges playing a factor?Are we preparing adequately for a no show by NordStream 2 gas this winter?European regulator defaults on fixing the EU ETS and remains a money making playground that is not fit for purpose. Is this an end to sensible pricing of carbon and a proper mechanism to fund renewable energy growth?The outlook for the UK and across Europe as central banks continue to prop-up economies in the hope of a sharp recovery.

The COP26 summit held in Glasgow made important progress in a number of areas — but was it enough?The world still remains off track to keep 1.5 degrees alive, but the progress made over the last year, and at the summit, offered bright spots and a strong foundation to build upon. This progress also demonstrates that the Paris Agreement mechanisms in place are working, albeit imperfectly and not yet at the required pace.Samuel Clements, discusses this, and more, with our Corporate Affairs Officer, Jeremy Nicholson in the latest #Resonance podcast.

In this week's Resonance energy market podcast, Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about European energy markets and the news of uncertainty around NordStream 2 deliveries causing the jump in energy prices.In this week's Resonance you will learn:NordStream2 issues cause a spike in gas prices – what has happened and what is the likelihood of a resolve to meet scheduled delivery While LNG looks favourable for Europe in the short-term, as does weather, we consider what is ahead for the second half of winterThe jump in gas prices sees coal still firmly on the agendaFactors causing the new historical highs in carbon priceThe view on prices due the NordStream 2 delaysWe look at where the good news might come from to trigger price corrections

Samuel Clements, Sustainability Specialist at Alfa Energy Group, talks decarbonisation within construction with Anna Baker, Head of Sustainability at Carey Group. Topics explored:The main driving force behind Carey Group's sustainability agenda The practical steps taken towards decarbonisationThe challenges faced along the way How Alfa Energy Group has supported the transitionAdvice to companies yet to begin their net zero journeys

In this week's UK energy market podcast Jeremy Nicholson discusses the improved resilience in power generation and gas supplies with Jason Durden, Head of Energy Markets and Risk Management.In this week's Resonance you will learn:Power generation see resilience returning to the market, even with wind droppingGovernment makes important announcement on investment into small modular reactor marketConvergence with EU market as the fledging UK carbon market evolvesGas and LNG comfortable for now, while demand is slightly above average and Russian gas remains absent despite promised flowsCoal sees significant falls, while gas and power prices remain distorted this winter as we consider another break lowerRussian gas holds back while COP26 is the talk of the town

Samuel Clements, Sustainability Specialist at Alfa Energy Group, talks sustainability with Andy Pratt, Head of Group (South) at Field Studies Council, discussing the environmental educational charity's approach to decarbonisation, the importance of technical expertise and sustainability data, the importance of avoiding greenwash, and with COP26 upon us, the need to harness the opportunity it presents through heighted awareness of climate change and its impact on the environment.

In this week's European energy market podcast Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the price volatility in European energy markets and the potential impact of COP26, taking place in Glasgow this week and next.In this week's Resonance you will learn:Potential for oil prices to go higher and why coal has dipped so muchRussian flows of gas remain topical with volatility in prices due to flows into different European markets and relative impacts on marketsSpain's 25 year transit agreement from Algeria comes to an end and could cause bullish impact as supplies drop to zeroWith current challenges there are calls abound for longer-term gas transit contracts to provide stability in prices and security of supplies alsoLooking at demand for winter we see temperatures remaining below seasonal norms in the short-term and we look at the forecast for the rest of NovemberWe look at whether COP26 will impact carbon markets

In this week's UK energy market podcast, Jeremy Nicholson discusses the improvement in supplies from wind and LNG and what to watch out for as we head towards November with Jason Durden, Head of Energy Markets and Risk Management. In this week's Resonance you will learn:LNG deliveries are up, a significant recovery from where we were, and weather is above seasonal norms, but November is the big testPower price make-up is much more multifaceted, but wind is the big player in the UKOil has greater flexibility, but we wait on the November announcements from OPEC+ (as the controlling influence), to see where prices go from hereAs the UK and EU prices for carbon converge, we look at the factors behind it

In this week's European energy market podcast Jeremy Nicholson talks to Alfa's Dr Petra Puskarova about the extraordinary developments across the continent.In this week's Resonance you will learn:With NordStream2 seemingly ready to deliver, what are we waiting for?Russia underlines need for Europe to ask for extra capacity for gas if needed.Are longer term contracts needed to provide Europe with security of supply?With Spain as one of the largest LNG importers the country faces an additional challenge from North African gas supplies.Are member states taking steps to help business energy users with costs?What might this mean for Fit for 55, particularly as we approach COP26?Why are carbon prices dropping?Suppliers continue to leave the market across Europe, but what does this mean for consumers?

In this week's UK energy market podcast Jeremy Nicholson discusses the government's planned action to support energy users in the UK with Jason Durden, Head of Energy Markets and Risk Management.In this week's Resonance you will learn:The government package. Is it what energy users want? Who will benefit, and who won't?What the market looks like in these unprecedented timesIs there a change in sentiment with warm words from Russia on gas for winter?The challenge for businesses as unsustainable prices and volatility remainsHas carbon cooled?Has oil run out of steam?What's the difference between supply and demand issues for oil and gas?