Coal Price Hike

The price of coal is on the up and hence the price of electricity will follow. According to Bloomberg the effects of the crisis in Ukraine is spreading west.

“German power for 2015 touched a five-week high as coal rose to the highest price since January amid speculation Russia’s intervention in Ukraine will spur demand for the solid fuel to replace gas in power plants.

The German contract, Europe’s electricity benchmark, climbed as much as 1.4 percent, according to broker data compiled by Bloomberg. European coal for delivery in 2015 increased as much as 1.1 percent.”

The Government should act now to ensure what is left of our coal industry is protected to insure and limit the exposure of the UK to events beyond our control. They should start with ensuring that Kellingley and Thorseby remain open and producing coal here in the UK.