101021 Energy Daily

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Transcript of 101021 Energy Daily

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Commodity Sales and Trading 21 October 2010

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   E  u  r  o   /   T  o  n  n  e

CO2 EUAs CO2 CERs

Coal API2 Spot

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US Natgas (HH) Spot

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Oslo: +47 22 01 76 68 Stockholm: +46 (0)8 473 7585 London: + 44 207 283 6081 Singapore: + 65 622 480 22 New York: +1 212 681 3885

Electricity Prices

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UK Natgas (NBP) SpotTTF Gas (EDX) 1. Month

Energy Daily – Power and Energy

Coal API#2 Cal 11 closed down at $101.95/MT($-0.85), while API#4 Cal 11 settled higher at$97.60 ($+0.90).

Prompt US Natgas prices rose slightlyyesterday, helped by firm cash prices andcontinued technical buying. The far end of the

curve remained under pressure from the weakfundamentals. US Natgas Nov contract closedup at $3.539/MMBTU ($+0.03).

EUA spot closed up at €15.12/MT (€+0.15),climbing back above the 15 euro barrier.

NordPool Power Forward Q1'11 closed lower at€50.31/MWh (€+0.16). Forward prices movedslightly higher yesterday, as crude and gasprices lifted German power, with Nordic pricesfollowing suit. The Nordic System price ishigher at €51.91/MWh for Thursday. GermanBaseload Spot fell further yesterday andclosed up at €53.00/MWh (€+0.75), on colderweather. The curve rose along with strongeroil and gas.

Product Indicative Mid Swap Prices 1M 3Q 4Q 2011

Coal API2 ($/Tonne) 100.45 102.4 n/a 101.95

UK Natgas (GBp/therm) 46.50 47.25 53.60 49.45

US Natgas ($/MMBTU) n/a n/a n/a n/a

TTF Gas (EUR/MWh) 18.75 n/a n/a 19.68

German power (EUR/MWh) 49.85 46.37 51.82 48.04

Nordpool Power (EUR/MWh) 50.65 41.65 44.80 45.25

Dec-10 Dec-11 Dec-12 10 vs 12

CO2 EUA (EUR/Tonne) 15.15 15.45 15.94 0.79

Market Commentary Natural Gas Electricity and Coal

Emissions

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