Please find attached a copy of the July 2022 Energy Update document that was shared earlier today via NFCC Procurement with the supporting text below:
FM & CONSTRUCTION CATEGORY – ENERGY UPDATE (INCL. SUPPLY, PRICING, PROJECTS)Dear Colleagues,Further to previous communications issued via NFCC Procurement, please find attached the July 2022 Energy Update issued on behalf of the FM & Construction Task and Finish Group. The document contains key information relating to current and forecast energy supply and storage issues, forecast price increases and national initiatives aimed at mitigating risks and addressing issues.
Nord Stream 1 Summary Update – The retrospective Force Majeure Notice that Gazprom issued to German gas suppliers on 14th July 2022 expired midnight on Thursday 21st July 2022. Gas flows were reinstated to just 40% of the total capacity and today Gazprom announced that as of tomorrow Wednesday 27th July 2022, gas flows will be further reduced due to alleged further maintenance issues. Today, the European Commission announced that Members States will be voluntarily reducing energy consumption in the winter 2022 period as significant supply and pricing issues are anticipated.
Although gas storage levels in the UK are still high, possible supply issues cannot be discounted and similar measures may be put in place. Energy pricing predictions have worsened – detailed information is contained in the attached document.
Please kindly share this update with the relevant people within your respective organisations. A copy of this Energy Update will also be made available via the National Procurement Hub website (www.nfcc-procurementhub.org.uk)
Should you have any further questions or wish to discuss the national energy initiatives described in the July 2022 Energy Update, please do not hesitate to contact me by emailing email@example.com
Those of you who are currently CCS customers on L6 energy baskets, please make contact with the CCS Energy Specialist Team as promptly as possible in order to take advantage of their trading strategy review.
Those of you who are currently Laser Energy customers, please wait for the completion of the commissioned benchmarking exercise (due to be completed by the end of August).
I am still waiting to hear what measures YPO will be taking. A further update meeting has already been scheduled, so please bear with me.
Should wish to discuss anything in further detail, please do not hesitate to contact me.