THE BORD GÁIS ENERGY INDEX INCREASES 1% IN JANUARY — INDEX 8% HIGHER THAN IN JANUARY 2011
Despite reduced demand and unseasonably mild weather across Europe for most of January, the Bord Gáis Energy Index rose 1% in the month as oil prices increased by $4 US Dollars. The possibility of military engagement should Iran attempt to close the Straits of Hormuz in response to international embargoes put upward pressure on oil prices.
Following months of steadily rising wholesale fuel prices, the April Bord Gáis Energy Index stabilised at 154.
In euro terms, having hit a month end closing high in March, oil prices finally receded in April as both market tightening and geopolitical tensions eased.
Supply constraints, storage withdrawals and cool weather supported UK Day-ahead gas prices and a weaker euro amplified this movement.
Overall: An increase in both oil and gas prices drove the Bord Gáis Energy Index 4% higher for the month of November. A weakening of the euro due to uncertainty about the future of the single currency compounded the effect. The lingering threat of a double dip recession continues to be a major influence on the movements in the index.
The index, which now stands at 143, is 17% higher than it was in November 2010.
The following are the key trends recorded for the month of October:
Oil: The oil element of the Index was up 5% to 151. Month-on-month oil prices were relatively unchanged in US dollar terms but as the euro weakened relative to the dollar, the euro price of a barrel of oil increased by 5%. The price of oil was supported by concerns over possible future supply disruption as a number of events occurred in oil producing regions.
Natural Gas: The natural gas element of the Index was up 6% to 191. Prices fluctuated in the first half of the month as consumption varied due to changeable weather and unstable UK production was replaced by increased flows of gas from Norway.
Coal: The coal element of the Index was down 1% to 142. Coal prices fell in the month due to a combination of subdued demand; healthy stockpiles; milder weather in Europe and uncertainty surrounding economic growth.
Electricity: The electricity element of the Index was up 3% to 121. A major contributory factor to the rise was the unavailability of imported power, because the electricity interconnector between Ireland and the UK was on outage for repairs. As a consequence, Ireland had to rely on its own generation fleet to meet demand and less efficient generators were called into production. Furthermore, thermal plants were forced out of the system temporarily on several days because of high winds, giving rise to additional start-up costs when they were subsequently required to provide supply.
INDEX DOWN 3% AS WHOLESALE GAS AND ELECTRICITY PRICES FALL AND GLOBAL OIL PRICES STABILISE
After two months of rising prices, the price of a barrel of oil finally stabilised in March at the relatively high monthly average price of $125 per barrel, as the markets focused less on the threat and potential impact of a military engagement between the West and Iran.
The Bord Gáis Energy Index remains relatively unchanged over the last 12 months but fell 7% in June. The major factor influencing the decline in the Index is the fall in the price of Brent crude oil which continues to recede from the record highs seen in March, although the price of oil has rebounded somewhat in the last week.
The Bord Gáis Energy Index from June 2013.
The Bord Gáis Energy Index was stable (-1%) in June as falls in the Irish wholesale electricity, UK Day-ahead gas and European coal prices were counteracted by a rising front month Brent crude oil price.
The Bord Gáis Energy Index rose in August due to concerns over global oil supplies stemming from conflicts and instability in Syria, Libya, and Egypt. Brent crude oil prices increased 6% due to threats to supply from the Suez Canal. The Index also rose as the wholesale gas price increased 2% and concerns grew over tightening oil markets with supply issues in Libya and Iraq.
The Bord Gáis Energy Index rose 1% in March as rising wholesale electricity prices offset falling oil and gas prices. Wholesale electricity prices increased 6% due to low wind volumes and forced outages of efficient gas and coal plants. Wholesale UK gas prices fell 5% amid mild weather and low demand, though concerns remain about potential disruptions to European gas supplies from Russia through Ukraine due to unpaid gas debts.
Following months of steadily rising wholesale fuel prices, the April Bord Gáis Energy Index stabilised at 154.
In euro terms, having hit a month end closing high in March, oil prices finally receded in April as both market tightening and geopolitical tensions eased.
Supply constraints, storage withdrawals and cool weather supported UK Day-ahead gas prices and a weaker euro amplified this movement.
Overall: An increase in both oil and gas prices drove the Bord Gáis Energy Index 4% higher for the month of November. A weakening of the euro due to uncertainty about the future of the single currency compounded the effect. The lingering threat of a double dip recession continues to be a major influence on the movements in the index.
The index, which now stands at 143, is 17% higher than it was in November 2010.
The following are the key trends recorded for the month of October:
Oil: The oil element of the Index was up 5% to 151. Month-on-month oil prices were relatively unchanged in US dollar terms but as the euro weakened relative to the dollar, the euro price of a barrel of oil increased by 5%. The price of oil was supported by concerns over possible future supply disruption as a number of events occurred in oil producing regions.
Natural Gas: The natural gas element of the Index was up 6% to 191. Prices fluctuated in the first half of the month as consumption varied due to changeable weather and unstable UK production was replaced by increased flows of gas from Norway.
Coal: The coal element of the Index was down 1% to 142. Coal prices fell in the month due to a combination of subdued demand; healthy stockpiles; milder weather in Europe and uncertainty surrounding economic growth.
Electricity: The electricity element of the Index was up 3% to 121. A major contributory factor to the rise was the unavailability of imported power, because the electricity interconnector between Ireland and the UK was on outage for repairs. As a consequence, Ireland had to rely on its own generation fleet to meet demand and less efficient generators were called into production. Furthermore, thermal plants were forced out of the system temporarily on several days because of high winds, giving rise to additional start-up costs when they were subsequently required to provide supply.
INDEX DOWN 3% AS WHOLESALE GAS AND ELECTRICITY PRICES FALL AND GLOBAL OIL PRICES STABILISE
After two months of rising prices, the price of a barrel of oil finally stabilised in March at the relatively high monthly average price of $125 per barrel, as the markets focused less on the threat and potential impact of a military engagement between the West and Iran.
The Bord Gáis Energy Index remains relatively unchanged over the last 12 months but fell 7% in June. The major factor influencing the decline in the Index is the fall in the price of Brent crude oil which continues to recede from the record highs seen in March, although the price of oil has rebounded somewhat in the last week.
The Bord Gáis Energy Index from June 2013.
The Bord Gáis Energy Index was stable (-1%) in June as falls in the Irish wholesale electricity, UK Day-ahead gas and European coal prices were counteracted by a rising front month Brent crude oil price.
The Bord Gáis Energy Index rose in August due to concerns over global oil supplies stemming from conflicts and instability in Syria, Libya, and Egypt. Brent crude oil prices increased 6% due to threats to supply from the Suez Canal. The Index also rose as the wholesale gas price increased 2% and concerns grew over tightening oil markets with supply issues in Libya and Iraq.
The Bord Gáis Energy Index rose 1% in March as rising wholesale electricity prices offset falling oil and gas prices. Wholesale electricity prices increased 6% due to low wind volumes and forced outages of efficient gas and coal plants. Wholesale UK gas prices fell 5% amid mild weather and low demand, though concerns remain about potential disruptions to European gas supplies from Russia through Ukraine due to unpaid gas debts.
The Bord Gáis Energy Index increased 3% in March as oil prices rallied over 5% on a currency adjusted basis. Other energy sources showed mixed performance, with UK gas down 1%, European coal down 3% and Irish electricity up 1%. Oil prices rebounded over 10% on expectations that a production freeze agreement between major producers will be reached in April to curb the global oil surplus. However, rebalancing the oil market may take time due to high global inventory levels. The euro strengthened against the US dollar and British pound.
In February 2016, the Bord Gáis Energy Index fell 1% month-over-month. Oil prices rose 3% while UK gas, European coal, and Irish electricity prices declined between 3-10% from the previous month. The report provides an overview of movements in prices for oil, natural gas, coal, and electricity in February and discusses factors influencing these markets such as supply and demand fundamentals as well as geopolitical issues.
- In January 2016, the Bord Gáis Energy Index fell 7% as wholesale prices declined for Brent crude oil (-7%), UK gas (-9%), European coal (-3%), and Irish electricity (-8%).
- Brent oil prices hit 12-year lows of $27.88/barrel in January due to oversupply and the lifting of Iranian sanctions.
- UK natural gas prices averaged 32.02 pence/therm in January, down from 34.16 pence/therm in December, as mild weather and ample supplies weighed on prices.
- Most energy commodity prices recorded losses in January as supply remained high and demand was weak.
- In December 2015, the Bord Gáis Energy Index fell 13% as wholesale prices for Brent crude oil, UK gas, European coal, and Irish electricity all recorded losses. The index stood at another record low of 79.
- Prices continued to decline across the board, with oil falling 19% to close below $38/barrel for the first time in a decade due to oversupply and weak demand. Other fuels like UK gas and European coal also recorded losses.
- The euro strengthened against the US dollar and British pound over the month, exacerbating losses in the energy index which is adjusted for currency movements.
- The Bord Gáis Energy Index fell 5% in November 2015 to its lowest ever point of 90, as the wholesale prices of Brent crude oil, UK gas, European coal, and Irish electricity all declined month-over-month.
- The document discusses how low oil prices are significantly impacting oil-exporting countries in the Gulf region, with Saudi Arabia still relying on oil for 85% of its budget despite efforts to diversify its economy.
- OPEC failed to agree on output limits at its December 2015 meeting, allowing oil production to remain high and adding to the global supply glut that is depressing prices.
The Bord Gáis Energy Index rose 4% in October due to higher prices for Brent crude oil, European coal, and wholesale electricity. A weaker euro contributed to higher prices for oil, coal, and gas, which are traded in dollars and pounds. Global gas supplies have expanded significantly in recent years due to new sources like shale gas, coal seam gas, and floating LNG facilities. This has led to a surplus of natural gas and lower wholesale gas prices in many markets like the UK. The oversupply situation could persist for some time as new LNG export capacity continues to come online through 2020.
The September 2015 Bord Gáis Energy Index fell 6% due to excess global oil supplies weighing on oil prices, with Brent crude falling to its lowest point since March 2009 of $48.37 per barrel. The index stood at 91 in September, a new record low. The document also discusses the Volkswagen emissions scandal casting doubt on the future of diesel engines in Europe. While diesel demand has surged in Europe due to tax policies and fuel efficiency, the scandal uncovered that diesel vehicles were emitting nitrogen oxide at levels seven times the legal limit. Continued low oil prices are driven by a global supply glut as US frackers and OPEC countries like Saudi Arabia and Iraq maintain high production levels.
1) The Bord Gáis Energy Index fell 1% in August as modest increases in the Brent crude oil price were offset by falls in the wholesale prices of gas, coal, and electricity.
2) Commodity prices have fallen significantly from their highs in recent years due to oversupply issues in almost all raw materials markets driven by slowing demand from China.
3) The US administration took steps toward ending its ban on crude oil exports, which could benefit US oil producers and allies while hurting countries like Russia, Venezuela, and Iran if the ban is fully lifted. However, many political and economic issues still need to be addressed.
The July 2015 Bord Gáis Energy Index fell 9% month-over-month due to weaker oil prices driven by abundant global supply. The index level of 98 was the lowest since December 2009. Brent crude oil prices continued to weaken, closing at the lowest price recorded by the index. The UK government announced plans to scrap an exemption to the Climate Change Levy for renewable electricity, contrary to the views of the green energy sector.
The June 2015 Bord Gáis Energy Index fell 3% due to weaker oil prices. Oil prices slumped toward the end of June as economic crisis in Greece weakened the dollar. The oil glut remains with supply exceeding demand by almost 3 million barrels per day. Natural gas prices were marginally weaker. Coal prices recovered slightly but electricity prices fell 9% due to lower demand in summer and a softening in power prices.
1) The Bord Gáis Energy Index fell 3% in May due to weaker wholesale gas and electricity prices, though the drop was softened by a weakening euro.
2) Brent crude oil prices were unchanged after recovering in previous months, but further gains are uncertain due to the ongoing oil supply glut.
3) Gazprom's profits declined in 2014 due to lower European demand, higher costs, and disputes with Ukraine over gas transit, and the company faces potential EU fines over antitrust issues.
1) The April Bord Gáis Energy Index rose 8% month-over-month as Brent crude oil prices increased nearly $12 per barrel due to geopolitical tensions and supply disruptions.
2) Robert Smithson argues that US tight oil production is more resilient to low prices than expected and that production costs are decreasing, suggesting oil prices may remain lower for longer.
3) Multiple factors including outages, declining spare capacity, and Middle East tensions supported higher oil prices in April, though stockpiles remain elevated and demand growth is expected to be modest.
1) The Bord Gáis Energy Index fell 9% in March as wholesale prices of oil, gas, coal, and electricity all recorded losses. A framework agreement between Iran and world powers added downward pressure on oil prices by potentially adding 1 million barrels per day of Iranian oil to global markets, though experts say this increase may not occur until 2016.
2) Natural gas prices in the UK fell as strong liquefied natural gas imports increased supplies. Coal prices also weakened due to high stock levels in Europe and declining demand from China.
3) Irish wholesale electricity prices fell due to lower gas and coal prices, but prices were also influenced by the intermittent pattern of wind power, which at times led to price
The February Bord Gáis Energy Index rose 16% month-over-month as the prices of oil, gas, coal, and electricity all increased. The main driver was a nearly $10 per barrel increase in the price of oil due to falling US rig counts restricting future US oil production growth. Despite the rally in prices, oil remains well below its 2011-2014 price range of $100-120 per barrel due to continued oversupply. Demand growth is not expected to be strong enough in 2015 to significantly reduce inventories and support further price increases.
1) The Bord Gáis Energy Index fell 5% in January due to lower wholesale prices for oil, gas, coal, and electricity. Brent crude oil prices stabilized around $50 per barrel after rapid declines in the previous months.
2) Concerns grew about weak economic growth in Europe and China. The ECB announced a quantitative easing program to try to stimulate inflation and demand.
3) Most energy commodity prices continued to decline in January except for small increases in oil and natural gas prices at the end of the month. Overall market sentiment remained bearish due to expectations of high supplies and weak demand growth.
1) The Bord Gáis Energy Index fell in December due to ongoing declines in global oil prices, with the index at 103.
2) A major factor has been the surge in US oil production, which has increased 80% since 2008 and now dominates price behavior after OPEC chose not to cut production in November.
3) Lower oil prices are good for the global economy as consumers benefit but pose challenges for oil-dependent countries and economies that rely on oil revenues to fund budgets.
The Bord Gáis Energy Index fell 9% in November 2014 to its lowest level in over four years as global oil prices continued to plunge. The document discusses factors contributing to declining oil prices such as increased North American oil production, OPEC's decision not to cut production, and geopolitical issues. It also summarizes trends in natural gas and coal markets, noting prices declines there as well driven by oversupply and weaker demand.
1) The Bord Gáis Energy Index fell 5% in October due to a 9% plunge in global oil prices from over $115 per barrel in June to $83.78 per barrel in October.
2) Wholesale natural gas prices in the UK increased 4% in October from seasonal higher demand despite record-high stock levels and mild weather so far.
3) The EU emissions trading scheme has failed to adequately incentivize the transition to low-carbon energy sources due to oversupply of carbon credits, keeping prices too low at around €6.59 per tonne of carbon emissions.
The Bord Gáis Energy Index for September 2014 saw significant increases in the wholesale prices of Natural Gas (21%) and Electricity (17%). This was mostly offset by a fall in Brent Crude Oil as the Bord Gáis Energy Index rises by 3%.
The Bord Gáis Energy Index was unchanged in August as stronger wholesale gas, coal and electricity prices offset lower Brent crude oil prices. Higher gas, coal, and electricity prices were driven by supply restrictions, rising demand, and uncertainty around potential conflict between Ukraine and Russia. Lower Brent crude prices were due to increased African oil supply and soft global demand, despite geopolitical risks in the Middle East.
HCL Notes and Domino License Cost Reduction in the World of DLAUpanagenda
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-and-domino-license-cost-reduction-in-the-world-of-dlau/
The introduction of DLAU and the CCB & CCX licensing model caused quite a stir in the HCL community. As a Notes and Domino customer, you may have faced challenges with unexpected user counts and license costs. You probably have questions on how this new licensing approach works and how to benefit from it. Most importantly, you likely have budget constraints and want to save money where possible. Don’t worry, we can help with all of this!
We’ll show you how to fix common misconfigurations that cause higher-than-expected user counts, and how to identify accounts which you can deactivate to save money. There are also frequent patterns that can cause unnecessary cost, like using a person document instead of a mail-in for shared mailboxes. We’ll provide examples and solutions for those as well. And naturally we’ll explain the new licensing model.
Join HCL Ambassador Marc Thomas in this webinar with a special guest appearance from Franz Walder. It will give you the tools and know-how to stay on top of what is going on with Domino licensing. You will be able lower your cost through an optimized configuration and keep it low going forward.
These topics will be covered
- Reducing license cost by finding and fixing misconfigurations and superfluous accounts
- How do CCB and CCX licenses really work?
- Understanding the DLAU tool and how to best utilize it
- Tips for common problem areas, like team mailboxes, functional/test users, etc
- Practical examples and best practices to implement right away
"Choosing proper type of scaling", Olena SyrotaFwdays
Imagine an IoT processing system that is already quite mature and production-ready and for which client coverage is growing and scaling and performance aspects are life and death questions. The system has Redis, MongoDB, and stream processing based on ksqldb. In this talk, firstly, we will analyze scaling approaches and then select the proper ones for our system.
The Bord Gáis Energy Index increased 3% in March as oil prices rallied over 5% on a currency adjusted basis. Other energy sources showed mixed performance, with UK gas down 1%, European coal down 3% and Irish electricity up 1%. Oil prices rebounded over 10% on expectations that a production freeze agreement between major producers will be reached in April to curb the global oil surplus. However, rebalancing the oil market may take time due to high global inventory levels. The euro strengthened against the US dollar and British pound.
In February 2016, the Bord Gáis Energy Index fell 1% month-over-month. Oil prices rose 3% while UK gas, European coal, and Irish electricity prices declined between 3-10% from the previous month. The report provides an overview of movements in prices for oil, natural gas, coal, and electricity in February and discusses factors influencing these markets such as supply and demand fundamentals as well as geopolitical issues.
- In January 2016, the Bord Gáis Energy Index fell 7% as wholesale prices declined for Brent crude oil (-7%), UK gas (-9%), European coal (-3%), and Irish electricity (-8%).
- Brent oil prices hit 12-year lows of $27.88/barrel in January due to oversupply and the lifting of Iranian sanctions.
- UK natural gas prices averaged 32.02 pence/therm in January, down from 34.16 pence/therm in December, as mild weather and ample supplies weighed on prices.
- Most energy commodity prices recorded losses in January as supply remained high and demand was weak.
- In December 2015, the Bord Gáis Energy Index fell 13% as wholesale prices for Brent crude oil, UK gas, European coal, and Irish electricity all recorded losses. The index stood at another record low of 79.
- Prices continued to decline across the board, with oil falling 19% to close below $38/barrel for the first time in a decade due to oversupply and weak demand. Other fuels like UK gas and European coal also recorded losses.
- The euro strengthened against the US dollar and British pound over the month, exacerbating losses in the energy index which is adjusted for currency movements.
- The Bord Gáis Energy Index fell 5% in November 2015 to its lowest ever point of 90, as the wholesale prices of Brent crude oil, UK gas, European coal, and Irish electricity all declined month-over-month.
- The document discusses how low oil prices are significantly impacting oil-exporting countries in the Gulf region, with Saudi Arabia still relying on oil for 85% of its budget despite efforts to diversify its economy.
- OPEC failed to agree on output limits at its December 2015 meeting, allowing oil production to remain high and adding to the global supply glut that is depressing prices.
The Bord Gáis Energy Index rose 4% in October due to higher prices for Brent crude oil, European coal, and wholesale electricity. A weaker euro contributed to higher prices for oil, coal, and gas, which are traded in dollars and pounds. Global gas supplies have expanded significantly in recent years due to new sources like shale gas, coal seam gas, and floating LNG facilities. This has led to a surplus of natural gas and lower wholesale gas prices in many markets like the UK. The oversupply situation could persist for some time as new LNG export capacity continues to come online through 2020.
The September 2015 Bord Gáis Energy Index fell 6% due to excess global oil supplies weighing on oil prices, with Brent crude falling to its lowest point since March 2009 of $48.37 per barrel. The index stood at 91 in September, a new record low. The document also discusses the Volkswagen emissions scandal casting doubt on the future of diesel engines in Europe. While diesel demand has surged in Europe due to tax policies and fuel efficiency, the scandal uncovered that diesel vehicles were emitting nitrogen oxide at levels seven times the legal limit. Continued low oil prices are driven by a global supply glut as US frackers and OPEC countries like Saudi Arabia and Iraq maintain high production levels.
1) The Bord Gáis Energy Index fell 1% in August as modest increases in the Brent crude oil price were offset by falls in the wholesale prices of gas, coal, and electricity.
2) Commodity prices have fallen significantly from their highs in recent years due to oversupply issues in almost all raw materials markets driven by slowing demand from China.
3) The US administration took steps toward ending its ban on crude oil exports, which could benefit US oil producers and allies while hurting countries like Russia, Venezuela, and Iran if the ban is fully lifted. However, many political and economic issues still need to be addressed.
The July 2015 Bord Gáis Energy Index fell 9% month-over-month due to weaker oil prices driven by abundant global supply. The index level of 98 was the lowest since December 2009. Brent crude oil prices continued to weaken, closing at the lowest price recorded by the index. The UK government announced plans to scrap an exemption to the Climate Change Levy for renewable electricity, contrary to the views of the green energy sector.
The June 2015 Bord Gáis Energy Index fell 3% due to weaker oil prices. Oil prices slumped toward the end of June as economic crisis in Greece weakened the dollar. The oil glut remains with supply exceeding demand by almost 3 million barrels per day. Natural gas prices were marginally weaker. Coal prices recovered slightly but electricity prices fell 9% due to lower demand in summer and a softening in power prices.
1) The Bord Gáis Energy Index fell 3% in May due to weaker wholesale gas and electricity prices, though the drop was softened by a weakening euro.
2) Brent crude oil prices were unchanged after recovering in previous months, but further gains are uncertain due to the ongoing oil supply glut.
3) Gazprom's profits declined in 2014 due to lower European demand, higher costs, and disputes with Ukraine over gas transit, and the company faces potential EU fines over antitrust issues.
1) The April Bord Gáis Energy Index rose 8% month-over-month as Brent crude oil prices increased nearly $12 per barrel due to geopolitical tensions and supply disruptions.
2) Robert Smithson argues that US tight oil production is more resilient to low prices than expected and that production costs are decreasing, suggesting oil prices may remain lower for longer.
3) Multiple factors including outages, declining spare capacity, and Middle East tensions supported higher oil prices in April, though stockpiles remain elevated and demand growth is expected to be modest.
1) The Bord Gáis Energy Index fell 9% in March as wholesale prices of oil, gas, coal, and electricity all recorded losses. A framework agreement between Iran and world powers added downward pressure on oil prices by potentially adding 1 million barrels per day of Iranian oil to global markets, though experts say this increase may not occur until 2016.
2) Natural gas prices in the UK fell as strong liquefied natural gas imports increased supplies. Coal prices also weakened due to high stock levels in Europe and declining demand from China.
3) Irish wholesale electricity prices fell due to lower gas and coal prices, but prices were also influenced by the intermittent pattern of wind power, which at times led to price
The February Bord Gáis Energy Index rose 16% month-over-month as the prices of oil, gas, coal, and electricity all increased. The main driver was a nearly $10 per barrel increase in the price of oil due to falling US rig counts restricting future US oil production growth. Despite the rally in prices, oil remains well below its 2011-2014 price range of $100-120 per barrel due to continued oversupply. Demand growth is not expected to be strong enough in 2015 to significantly reduce inventories and support further price increases.
1) The Bord Gáis Energy Index fell 5% in January due to lower wholesale prices for oil, gas, coal, and electricity. Brent crude oil prices stabilized around $50 per barrel after rapid declines in the previous months.
2) Concerns grew about weak economic growth in Europe and China. The ECB announced a quantitative easing program to try to stimulate inflation and demand.
3) Most energy commodity prices continued to decline in January except for small increases in oil and natural gas prices at the end of the month. Overall market sentiment remained bearish due to expectations of high supplies and weak demand growth.
1) The Bord Gáis Energy Index fell in December due to ongoing declines in global oil prices, with the index at 103.
2) A major factor has been the surge in US oil production, which has increased 80% since 2008 and now dominates price behavior after OPEC chose not to cut production in November.
3) Lower oil prices are good for the global economy as consumers benefit but pose challenges for oil-dependent countries and economies that rely on oil revenues to fund budgets.
The Bord Gáis Energy Index fell 9% in November 2014 to its lowest level in over four years as global oil prices continued to plunge. The document discusses factors contributing to declining oil prices such as increased North American oil production, OPEC's decision not to cut production, and geopolitical issues. It also summarizes trends in natural gas and coal markets, noting prices declines there as well driven by oversupply and weaker demand.
1) The Bord Gáis Energy Index fell 5% in October due to a 9% plunge in global oil prices from over $115 per barrel in June to $83.78 per barrel in October.
2) Wholesale natural gas prices in the UK increased 4% in October from seasonal higher demand despite record-high stock levels and mild weather so far.
3) The EU emissions trading scheme has failed to adequately incentivize the transition to low-carbon energy sources due to oversupply of carbon credits, keeping prices too low at around €6.59 per tonne of carbon emissions.
The Bord Gáis Energy Index for September 2014 saw significant increases in the wholesale prices of Natural Gas (21%) and Electricity (17%). This was mostly offset by a fall in Brent Crude Oil as the Bord Gáis Energy Index rises by 3%.
The Bord Gáis Energy Index was unchanged in August as stronger wholesale gas, coal and electricity prices offset lower Brent crude oil prices. Higher gas, coal, and electricity prices were driven by supply restrictions, rising demand, and uncertainty around potential conflict between Ukraine and Russia. Lower Brent crude prices were due to increased African oil supply and soft global demand, despite geopolitical risks in the Middle East.
HCL Notes and Domino License Cost Reduction in the World of DLAUpanagenda
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-and-domino-license-cost-reduction-in-the-world-of-dlau/
The introduction of DLAU and the CCB & CCX licensing model caused quite a stir in the HCL community. As a Notes and Domino customer, you may have faced challenges with unexpected user counts and license costs. You probably have questions on how this new licensing approach works and how to benefit from it. Most importantly, you likely have budget constraints and want to save money where possible. Don’t worry, we can help with all of this!
We’ll show you how to fix common misconfigurations that cause higher-than-expected user counts, and how to identify accounts which you can deactivate to save money. There are also frequent patterns that can cause unnecessary cost, like using a person document instead of a mail-in for shared mailboxes. We’ll provide examples and solutions for those as well. And naturally we’ll explain the new licensing model.
Join HCL Ambassador Marc Thomas in this webinar with a special guest appearance from Franz Walder. It will give you the tools and know-how to stay on top of what is going on with Domino licensing. You will be able lower your cost through an optimized configuration and keep it low going forward.
These topics will be covered
- Reducing license cost by finding and fixing misconfigurations and superfluous accounts
- How do CCB and CCX licenses really work?
- Understanding the DLAU tool and how to best utilize it
- Tips for common problem areas, like team mailboxes, functional/test users, etc
- Practical examples and best practices to implement right away
"Choosing proper type of scaling", Olena SyrotaFwdays
Imagine an IoT processing system that is already quite mature and production-ready and for which client coverage is growing and scaling and performance aspects are life and death questions. The system has Redis, MongoDB, and stream processing based on ksqldb. In this talk, firstly, we will analyze scaling approaches and then select the proper ones for our system.
What is an RPA CoE? Session 1 – CoE VisionDianaGray10
In the first session, we will review the organization's vision and how this has an impact on the COE Structure.
Topics covered:
• The role of a steering committee
• How do the organization’s priorities determine CoE Structure?
Speaker:
Chris Bolin, Senior Intelligent Automation Architect Anika Systems
Freshworks Rethinks NoSQL for Rapid Scaling & Cost-EfficiencyScyllaDB
Freshworks creates AI-boosted business software that helps employees work more efficiently and effectively. Managing data across multiple RDBMS and NoSQL databases was already a challenge at their current scale. To prepare for 10X growth, they knew it was time to rethink their database strategy. Learn how they architected a solution that would simplify scaling while keeping costs under control.
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectorsDianaGray10
Join us to learn how UiPath Apps can directly and easily interact with prebuilt connectors via Integration Service--including Salesforce, ServiceNow, Open GenAI, and more.
The best part is you can achieve this without building a custom workflow! Say goodbye to the hassle of using separate automations to call APIs. By seamlessly integrating within App Studio, you can now easily streamline your workflow, while gaining direct access to our Connector Catalog of popular applications.
We’ll discuss and demo the benefits of UiPath Apps and connectors including:
Creating a compelling user experience for any software, without the limitations of APIs.
Accelerating the app creation process, saving time and effort
Enjoying high-performance CRUD (create, read, update, delete) operations, for
seamless data management.
Speakers:
Russell Alfeche, Technology Leader, RPA at qBotic and UiPath MVP
Charlie Greenberg, host
For the full video of this presentation, please visit: https://www.edge-ai-vision.com/2024/06/temporal-event-neural-networks-a-more-efficient-alternative-to-the-transformer-a-presentation-from-brainchip/
Chris Jones, Director of Product Management at BrainChip , presents the “Temporal Event Neural Networks: A More Efficient Alternative to the Transformer” tutorial at the May 2024 Embedded Vision Summit.
The expansion of AI services necessitates enhanced computational capabilities on edge devices. Temporal Event Neural Networks (TENNs), developed by BrainChip, represent a novel and highly efficient state-space network. TENNs demonstrate exceptional proficiency in handling multi-dimensional streaming data, facilitating advancements in object detection, action recognition, speech enhancement and language model/sequence generation. Through the utilization of polynomial-based continuous convolutions, TENNs streamline models, expedite training processes and significantly diminish memory requirements, achieving notable reductions of up to 50x in parameters and 5,000x in energy consumption compared to prevailing methodologies like transformers.
Integration with BrainChip’s Akida neuromorphic hardware IP further enhances TENNs’ capabilities, enabling the realization of highly capable, portable and passively cooled edge devices. This presentation delves into the technical innovations underlying TENNs, presents real-world benchmarks, and elucidates how this cutting-edge approach is positioned to revolutionize edge AI across diverse applications.
Digital Banking in the Cloud: How Citizens Bank Unlocked Their MainframePrecisely
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2. Bord Gáis Energy Index
JANUARY 2012
THE BORD GÁIS ENERGY INDEX INCREASES 1% IN JANUARY
— INDEX 8% HIGHER THAN IN JANUARY 2011 —
Bord Gáis Energy Index (Dec 31st 2009 = 100) OVERALL SUMMARY:
Energy
12 Month
Rolling Average
Despite reduced demand and unseasonably
Index Graph
Data
31 October 2009 87.80
31 January 2009 92.10
Bord Gáis Energy Index
30 November 2009 87.15 12 Month Rolling Average mild weather across Europe for most of
180
28 February 2009 87.77
31 December 2009 88.29
31 March 2009
30 April 2009
76.86
77.63 31 January 2010 88.92 January, the Bord Gáis Energy Index rose
1% in the month as oil prices increased by
31 May 2009 84.37 28 February 2010 90.20
30 June 2009 90.81
31 March 2010 92.51
31 July 2009 88.62
31 August 2009
30 September 2009
88.35
85.76
30 April 2010
31 May 2010
95.31
97.49
$4 US Dollars. The possibility of military
31 October 2009 92.39
30 June 2010 99.22 engagement should Iran attempt to
140
30 November 2009 94.82
31 December 2009
31 January 2010
100.00
99.62
31 July 2010
31 August 2010
101.09
102.82
close the Straits of Hormuz in response
28 February 2010 103.17
30 September 2010 104.97 to international embargoes put upward
Points
31 March 2010 104.57
31 October 2010 106.66
30 April 2010
31 May 2010
111.22
110.49 30 November 2010 108.89 pressure on oil prices.
30 June 2010 111.64
31 December 2010 111.88
31 July 2010 111.05
31 August 2010 109.16 31 January 2011 114.76
100
30 September 2010 111.50 28 February 2011 117.91
31 October 2010 112.64
31 March 2011 121.41
30 November 2010 121.67
31 December 2010 135.86 30 April 2011 124.45
31 January 2011 134.21 31 May 2011 126.97
28 February 2011 140.96
30 June 2011 128.88
31 March 2011 146.51
30 April 2011 147.76 31 July 2011 131.18
31 May 2011 140.73 31 August 2011 133.64
60
30 June 2011 134.54
30 September 2011 135.59
31 July 2011 138.57
31 August 2011 138.69 31 October 2011 137.54
30 September 2011 134.89
Jan-09 31 November 2011
Apr-09 Jul-09 139.53
Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12
31 October 2011 136.14
31 November 2011 143.88 31 December 2011 140.15
31 December 2011 143.22 31 January 2012 141.01
31 January 2012 144.43
1 Mth 1% 3 Mth 5% 12 Mth 8%
In January, uncertainty around the health of the global economy continued following the release of lower than expected Q4
GDP numbers for some major economies, reduced growth forecasts for 2012, and numerous ratings downgrades for many
European countries. Despite this, improved economic sentiment started to emerge tentatively as some major economies
appear to be producing more goods, jobs are being created and confidence is growing. This improved sentiment was
underpinned by comments from the ECB President indicating that there are now tentative signs that the euro zone economy
is stabilising and from the US Federal Reserve Chairman that the US economy is expanding moderately. This sentiment is
feeding through to oil prices.
Oil Index OIL
Oil prices continued to be supported by the
180
Oil Graph
Data
ongoing tensions between the West and
31 January 2009
28 February 2009
65.78
67.03 Iran over its nuclear programme. Following
the EU’s decision to ban oil imports from
31 March 2009 68.43
30 April 2009 70.72
Iran’s from 1 July 2012, there was increased
31 May 2009 85.34
30 June 2009 90.70
140
31 July 2009 92.57
31 August 2009
30 September 2009
89.31
86.74
speculation that Iran would retaliate by
31 October 2009 93.84
attempting to close the Straits of Hormuz,
Points
30 November 2009 96.36
31 December 2009
31 January 2010
100.00
94.62 an important transit point through which
approximately a fifth of the world’s daily oil
28 February 2010 104.90
31 March 2010 112.38
30 April 2010 121.16
requirement passes. The possibility of supply
100
31 May 2010 111.65
30 June 2010 112.54
31 July 2010
31 August 2010
110.19
108.17 v
disruptions of oil to the globe put upward
30 September 2010
31 October 2010
111.13
109.88 pressure on prices.
30 November 2010 121.18
Despite ongoing negotiations between
31 December 2010 130.36
31 January 2011 135.62
60 Greece and its investors and fears of a credit
28 February 2011 149.07
31 March 2011 152.09
30 April 2011 156.15
31 May 2011
30 June 2011
149.41
142.55 Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 event if an agreement is not reached, in
31 July 2011
31 August 2011
149.27
146.57
general, economic releases in January were
*Index adjusted for currency movements.
30 September 2011
31 October 2011
140.51
144.47 Data Source: ICE positive. On top of the political tensions,
positive investor sentiment also supported
31 November 2011 151.05
31 December 2011 152.25
31 January 2012 155.87
oil prices as tentative signs of improving
1 Mth 2% 3 Mth 7% 12 Mth 15%
economic growth took shape. As a result, oil
price rose 2% in January.
3. Bord Gáis Energy Index
JANUARY 2012
Natural Gas Index
Natural
Gas Graph
250 NATURAL GAS
Data
31 January 2009 195.04
The January average Day-ahead gas price
28 February 2009
31 March 2009
156.23
99.24 was lower than its December equivalent
by 3%. Despite very cold weather at the
30 April 2009 92.78
31 May 2009
30 June 2009
31 July 2009
87.00
87.56
76.34
200 end of January across Ireland, Britain and
31 August 2009 69.43
30 September 2009
31 October 2009
61.72
77.55
continental Europe, temperatures during
Points
30 November 2009 83.21
the month were generally mild and gas
150
31 December 2009 100.00
demand was relatively low for the time of
31 January 2010 125.88
28 February 2010 114.44
the year.
31 March 2010 101.67
30 April 2010 106.04
31 May 2010 130.73
30 June 2010 145.29
31 July 2010 157.48
Low demand resulted in UK storage
100
31 August 2010 145.96
30 September 2010
31 October 2010
132.67
148.57 facilities being at around 73% full at the end
30 November 2010
31 December 2010
167.11
204.87 of January compared to 38% the previous
year. High storage levels after 4 months of
31 January 2011 188.31
28 February 2011 179.74
50
31 March 2011 194.03
30 April 2011
31 May 2011
181.39
184.99
winter put downward pressure on prices.
30 June 2011
31 July 2011
183.36
179.36
Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 Reduced gas demand was also seen in
31 August 2011
30 September 2011
172.82
180.07 *Index adjusted for currency movements. Europe as evidenced by data released by
Societe General, stating that European gas
31 October 2011 180.16
Data Source: Spectron Group
31 November 2011 191.53
31 December 2011 189.94
31 January 2012 184.35 demand slumped 9.5% in 2011.
1 Mth -3% 3 Mth 2% 12 Mth -2% Colder conditions toward the end of the
month caused an increase in storage
withdrawals and a spike in natural
gas prices.
Coal Index
COAL
260
European coal prices fell 8% in January. Low
Coal Graph
Data
31 January 2009
28 February 2009
102.58
93.02 demand for coal in Europe due to relatively
31 March 2009 82.80
mild winter weather (reducing demand
205
30 April 2009 78.58
for coal to generate electricity to produce
31 May 2009 76.19
30 June 2009 76.68
power to heat homes) and already high
31 July 2009 81.48
31 August 2009 84.15
30 September 2009 83.00
inventory stocks, as well as an oversupply
Points
31 October 2009 86.26
150
30 November 2009 88.54
31 December 2009
31 January 2010
100.00
105.77
of alternative for power generation such
28 February 2010
31 March 2010
95.28
95.51 as natural gas, put downward pressure
on prices. High wind levels in January,
30 April 2010 108.11
31 May 2010 125.06
particularly in Germany, also meant that
30 June 2010 132.03
95
31 July 2010 121.85
31 August 2010 123.28
30 September 2010
31 October 2010
121.29
121.83
power plants that run on coal and other
30 November 2010
31 December 2010
150.34
159.48
fossil fuels received less running time and
31 January 2011 148.31
stock piles of coal were not depleted.
40
28 February 2011 149.34
31 March 2011 153.91
30 April 2011
31 May 2011
148.29
145.75
Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12 In addition to reduced European demand,
lower Chinese and Indian buying as well
30 June 2011 144.90
31 July 2011 147.62
*Index adjusted for currency movements.
as projected negative economic growth in
31 August 2011 149.65
30 September 2011 156.20 Data Source: ICE
31 October 2011 145.04
31 November 2011
31 December 2011
142.82
145.65
Europe in 2012 also weighed on the market.
31 January 2012 134.66
Coal price did receive some support from a
1 Mth -8% 3 Mth -8% 12 Mth -9%
stronger euro versus the US Dollar (making
coal cheaper for European buyers and
potentially boosting demand), and higher
Electricity Index oil and German power prices.
Electricity 180 ELECTRICITY
Graph Data
31 January 2009 127.36
Irish wholesale electricity prices were 2%
28 February 2009
31 March 2009
117.38
89.56
lower in January compared to December.
30 April 2009
31 May 2009
88.58
82.33 Unseasonably mild weather for most of
the month and consistently high winds put
30 June 2009 91.74
31 July 2009
31 August 2009
30 September 2009
83.00
89.26
87.28
140 downward pressure on wholesale prices.
Points
31 October 2009 91.82
30 November 2009 93.65
31 December 2009
31 January 2010
100.00
105.32
High wind levels meant that the electricity
28 February 2010
31 March 2010
98.50
90.42 produced by more expensive thermal
100 plants was substituted with cheaper
30 April 2010 93.24
31 May 2010 105.19
30 June 2010 104.88
31 July 2010
31 August 2010
106.05
105.66
electricity from wind farms over extended
30 September 2010
31 October 2010
109.05
112.69 periods in January. The consistent nature of
the wind generation also meant that fossil
30 November 2010 115.75
31 December 2010 136.21
fuel generators were started less often
31 January 2011 123.78
60
28 February 2011 120.12
31 March 2011 129.24
30 April 2011
31 May 2011
127.27
118.10
Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12
which helped to keep wholesale prices low.
30 June 2011 112.46
31 July 2011 112.53
31 August 2011 118.86 Data Source: SEMO
30 September 2011 117.61
31 October 2011 114.14
31 November 2011 123.77
31 December 2011 119.63
31 January 2012 117.47
1 Mth -2% 3 Mth 0% 12 Mth -5%
4. Bord Gáis Energy Index
JANUARY 2012
FX Rates
31 January 2009
EUR/USD
1.283 31 January 2009
EUR/GBP
0.887 FX RATES
1.60
28 February 2009
31 March 2009
1.272
1.323
28 February 2009
31 March 2009
0.886
0.925
Increasing hopes that Greece and
30 April 2009 1.321 30 April 2009 0.894
31 May 2009 1.412 31 May 2009 0.874 its creditors were getting close to an
1.40
30 June 2009 1.405 30 June 2009 0.853
31 July 2009 1.424 31 July 2009 0.853 agreement in the latter part of January,
that would allow it to receive a second
31 August 2009 1.434 31 August 2009 0.881
30 September 2009 1.464 30 September 2009 0.914
31 October 2009 1.474 31 October 2009 0.896
round of international aid, stabilised the
1.20
30 November 2009
31 December 2009
1.498
1.433
30 November 2009
31 December 2009
0.913
0.888 euro and improved market sentiment
31 January 2010 1.389 31 January 2010 0.867
28 February 2010 1.360 28 February 2010 0.893 toward the region. This improved
1.00
31 March 2010 1.353
30 April 2010 1.327
31 March 2010
30 April 2010
0.891
0.868 sentiment was also reflected in what was
31 May 2010
30 June 2010
1.230
1.226
31 May 2010
30 June 2010
0.846
0.819
perceived to be successful debt sales by
31 July 2010 1.305 31 July 2010 0.831 European countries which resulted in
0.80
31 August 2010
30 September 2010
31 October 2010
1.269
1.362
1.392
31 August 2010
30 September 2010
0.827
0.866 falling European borrowing costs.
31 October 2010 0.869
Despite the euro hitting a 16 month
30 November 2010 1.304 30 November 2010 0.837
31 December 2010 1.337
0.60
31 December 2010 0.857
31 January 2011
28 February 2011
1.370
1.379
31 January 2011
28 February 2011
0.854
0.849
low of 1.27 versus the US Dollar on the
Jan-09 Apr-09 Jul-09 Oct-09 Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 Apr-11 Jul-11 Oct-11 Jan-12
31 March 2011
30 April 2011
1.419
1.483
31 March 2011 0.883 16th of January following downgrade
announcements, the euro appreciated by
30 April 2011 0.888
31 May 2011 1.437
31 May 2011 0.874
30 June 2011 1.451
31 July 2011 1.438
30 June 2011
31 July 2011
0.903
0.875
1% in the month. Improved confidence in
31 August 2011
30 September 2011
1.441
1.345
31 August 2011 0.885
the prospects of global economic stability
1 Mth
31 October 2011 1%
1.395 3 31 October -6%0.8615 12 Mth -4%
Mth 2011
30 September 2011
0.860
EURUSD may have also encouraged investors to
31 November 2011 1.3446
0.8562
reverse some of the safe haven flows into
31 November 2011
31 December 2011 1.2961
1 Mth
31 January 2012 0%
1.3084 3 31Mth -4%
December 2011 0.8334
12 Mth -3% EURGBP
31 January 2012 0.8302 US Dollar denominated assets. The euro
was unchanged versus the Pound Sterling
in January.
MARkET OUTLOOk:
There are a number of variables at play which have the potential to increase or decrease commodity fuel prices in the
coming months. The outcome of the ongoing discussions between Greece and its bondholders on cutting the nation’s
debt burden has the potential to stabilise or destabilise the fragile European and global economy. Despite some positive
economic releases and improving investor sentiment, confidence is at this stage very tentative and will be influenced heavily
by releases which will provide further evidence about the true state of the global economy in the months ahead.
Continuing cold weather in continental Europe has the potential to deplete heavy stocks of coal and gas and this could put
some upward pressure on prices. Finally, Iran’s reaction to the embargoes being imposed and the West’s attitude toward
its nuclear programme has the potential to escalate tensions in a region that is vital to global oil supplies.
RE-wEIGHTING OF BORD GÁIS ENERGY INDEX:
Following the SEAI’s 2009 review of energy consumption in
Ireland, released in Q4 2010, there was a 9.3% drop in overall Oil 64.93%
energy consumption. The most notable drop of 1.39% was in oil
consumption in the form of gasoline and diesel. This reflects the
economic downturn experienced at the time. The share of natural Gas
gas and electricity increased by 0.63% and 0.57% respectively. An 13.52%
increase in the use of renewables and peat, at the expense of coal in
electricity generation was also observed. As a result the Bord Gáis
Energy Index has been reweighted to reflect the latest consumption Electricity Coal
data. This has had a minimal effect on the overall shape of the Index, 18.40% 3.16%
but may indicate future trends.
For more information please contact: Fleishman-Hillard — Aidan McLaughlin — 085 749 0484
Bord Gáis Energy — Christine Heffernan — 087 050 5555
Disclaimer:
The contents of this report are provided solely as an information guide. The report is presented to you “as is” and may or may
not be correct, current, accurate or complete. While every effort is made in preparing material for publication no responsibility
is accepted by or on behalf of Bord Gáis Eireann, the SEMO, ICE Futures Europe, the Sustainable Energy Authority of Ireland
or Spectron Group Limited (together, the “Parties”) for any errors, omissions or misleading statements within this report. No
representation or warranty, express or implied, is made or liability accepted by any of the Parties or any of their respective
directors, employees or agents in relation to the accuracy or completeness of the information contained in this report. Each of the
Parties and their respective directors, employees or agents does not and will not accept any liability in relation to the information
contained in this report. Bord Gáis Eireann reserves the right at any time to revise, amend, alter or delete the information provided
in this report.