 Gas prices reach two-year high - a bad sign for energy billsBy Sarah Taaffe-Maguire, business and economics reporterBritish wholesale gas prices are at a two-year high, likely meaning higher bills for consumers. Low rates of gas storage in Britain and across Europe combined with cold weather has increased demand for gas to heat homes and brought the price up to 140 pence a therm (a unit of heat used to measure gas). Higher gas prices can bring up household bills as electricity costs are linked to wholesale gas prices.Britain is reliant on European gas imports and has less storage than its neighbours. Last month, the owner of Britain's largest gas storage site said levels in the country were "concerningly low". But those European storage levels have been depleted by cold weather and are now at approximately 50% capacity, well below the roughly 70% full level this time last year.Britain is still reliant on gas to generate electricity and heat homes and so is vulnerable to volatile prices. Worsening these factors and stoking fears of more supply shocks are global trade tensions as China today slapped a 15% tariff on US gas in response to Donald Trump's tariffs.Since Russia's invasion of Ukraine three years ago, gas costs spiked as the continent sought to wean itself off Russian supplies. Russia, however, remains a key source of gas for Europe. |
Sad stalkerHave a word with little pip boy, maybe his mommy can explain to you what "filtered" means.Only two sheep unfiltered, my best pal and little pip boy :) |
Sad stalker :) |
If you do not get in now it proves you are just a troll |
Just been going over their accounts for FY23.Their accrued expenses was £89m, with ROC at £21m, so presumably the remaining £68m was what they owed SmartestEnergy.Now that they don't have to provide cash collateral then it goes without saying that Shell will be tighter on their payment structure as well as being higher so will be interesting to see how this looks for FY24.What you reckon pal? |
Nice one trader Trev re: PM redemptions |
Looks like the worm is turning |
Meantime, the more important UK wholesale electricity price continues to climb strongly. By my recollection, Yu sells something like 3 times more electricity than gas, but I stand to be corrected. |
Actually Sparky I don't think that's completely correct regarding MINI. The RNS you quote from above is connected with a redemption process that MINI initiated a while back, which resulted in a much larger than expected take up than expected. While that process has effectively concluded, it resulted in the trust being too small to be viable so they have now initiated a winding up process, which offers the option of rolling holdings in MINI into a couple of Premier Miton's open-ended funds.
While nothing is guaranteed, it is reasonable to suppose that those who turned down the redemption process will be happy to continue with the UK microcap exposure and roll over into the other funds, hence minimising any overhang. I don't think it's right to say that it's all done and dusted however. |
PalYou keep referencing their cash position in relation to PE, and m/c.So are you saying the Shell liquidity covenant won't include cash? |
GW mentioned that YU share price has beaten NVDA since 2020. No surprise there he picked the peak period due to the energy crisis.
Completely different picture if you pick the last ten years:
NVDA +26,178.2%
YU +653%
Still not bad, but selective periods to suit the agenda - correction, to suit the sales pitch! :) |
GW talking his book, as one would expect. Wouldn't be surprised to see a reduced holdings RNS.Skipped over the cash, also omitted to mention its income and profitability has without doubt benefitted by the energy crisis and prior to that couldn't make a profit. |
Couldn't be more bullish, GW and knows his stuff.
Totally ignore all the smoke and mirrors - probably on it's 6th cycle.
Can't understand why they don't address it now, with more than moaning, after continually giving precision notice to the trading market. |
Cheers for the link. |
YU. mentioned at the beginning of this interview from around an hour ago. |
Johndoe. I added before you at 1660 and thought that was fine.Good longterm and glad I added more this morning. Totally no brainer. Awash with cash |
Pity they don't do the ADVFN tinker, where they vanish completely - can't have everything, lol. |
PalPremier Miton:"The realisation of the Redemption Pool has progressed well and is nearly complete,"Nearly complete!, thanks for that but already knew hence my posting. |
Just as a statement of facts yet again misinformation on LSE. premier Miton finished closing the MINI a couple of weeks ago. Due to high redemptions in 2024 and not viable to continue. So all done and dusted Back to sleep mode until I see glaring lies and omissions of fact. The realisation of the Redemption Pool has progressed well and is nearly complete, with only two small positions remaining, which are currently suspended and which may take time to realise, with no certainty on the amounts to be realised. As such, the Directors have resolved to make an interim distribution in respect of the Ordinary Shares redeemed in the November 2024 Redemption (the "Interim Distribution"). The Interim Distribution per redeemed Ordinary Share equals the aggregate cash received to date by the Company upon the realisation of the Redemption Pool, after deducting the costs of the November 2024 Redemption, and a pro - rata share of the costs and expenses, to date, of the Company not attributable to a particular pool, divided by the number of Redemption Shares. On that basis, the Board confirms that the Interim Distribution for the 5 November 2024Redemption Point is 48.43 pence per redeemed Ordinary Share including dividends and bank interest received. Payments will be despatched to the former shareholders of the Company whose shares were redeemed in the November 2024 Redemption on or around 4 February 2025. The Company will provide a further update regarding the final distribution in due course. Defined terms in the announcement have the same meaning as set out in the Articles of Association, a copy of which may be obtained from the Company Secretary |
Reminds me of Fight Club, lol! |
On the + side, very much enjoying my first day of troll freedom - bliss.
Filtered the alter-ego as well for double satisfaction guaranteed. |
"Hiding buys as sells"Little pip boy you are clueless, the exchange computer automatically assigns whether a bit or sell based on the mid price, the mm's are hiding nothing. |
Hiding buys as sells again now. |
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