The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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-----------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)--PROFIT
JUN-----------2,374,495-----0.7673-------1,873,273-------------(89,099)-----1,784,174
JUL------------2,957,490-----0.7000-------2,070,358-----------(540,036)------1,530,322
AUG------------2,677,659-----0.8171-------2,187,876-----------(722,030)------1,465,846
SEP-------------2,306,790-----0.8951-------2,064,802-----------(808,091)------1,297,194
OCT-------------2,748,291-----1.0359-------2,846,888-----------(963,227-------1,883,661
NOV-------------2,301,912-----1.0171-------2,341,339----------(911,918)-------1,429,421
DEC-------------2,300,499-----0.8008--------1,842,206----------(602,785)-------1,239,421
JAN-------------2,540,378-----0.7055--------1,792,160----------(445,901)--------1,346,259
TOTAL---------------------------------------------------------------------------------------11,935,715
plus LOAN-----------------------------------------------------------------------------------6,000,000
minus 2022 swap payment--------------------------------------------------------------3,500,000
Balance--------------------------------------------------------------------------------------14,435,715
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NETSEC deductions.
3)Profit is gross profit.
4)*Effective price.
5) NETSEC payment seems to have increased 9 fold from 0.386p to 3.6p/therm.
According to the last CPR.
6) Does not include any condensate payments.
-----------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)--PROFIT
JUN-----------2,374,495-----0.7673-------1,873,273-------------(89,099)-----1,784,174
JUL------------2,957,490-----0.7000-------2,070,358-----------(540,036)------1,530,322
AUG------------2,677,659-----0.8171-------2,187,876-----------(722,030)------1,465,846
SEP-------------2,306,790-----0.8951-------2,064,802-----------(808,091)------1,297,194
OCT-------------2,748,291-----1.0359-------2,846,888-----------(963,227-------1,883,661
NOV-------------2,301,912-----1.0171-------2,341,339----------(911,918)-------1,429,421
DEC-------------2,300,499-----0.8008--------1,842,206----------(602,785)-------1,239,421
JAN-------------2,540,378-----0.7055--------1,792,160----------(445,901)--------1,346,259
TOTAL---------------------------------------------------------------------------------------11,935,715
plus LOAN-----------------------------------------------------------------------------------6,000,000
minus 2022 swap payment--------------------------------------------------------------3,500,000
Balance--------------------------------------------------------------------------------------14,435,715
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT
OCT----------2,748,291---1.0359---------2,846,888---------(963,227)--------1,883,661
NOV---------2,301,912----1.0171---------2,341,339---------(911,918)--------1,429,421
DEC---------2,300,499----0.8008---------1,842,206---------(602,785)--------1,239,421
Q1 23/24---7,350,702----0.9564---------7,030,596---------(2,477,930)-----4,552,503
JAN----------2,540,378----0.7055---------1,792,160-----------(445,901)-----1,346,259
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NETSEC deductions.
3)Profit is gross profit.
4)*Effective price.
5) NETSEC payment seems to have increased 9 fold from 0.386p to 3.6p/therm.
According to the last CPR.
I noticed a discrepency in the production for December and found i had double counted
production on the 21st. These are the revised numbers.
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT
OCT----------2,748,291---1.0359---------2,846,888---------(963,227)--------1,883,661
NOV---------2,301,912----1.0171---------2,341,339---------(911,918)--------1,429,421
DEC---------2,300,499----0.8008---------1,842,206---------(602,785)--------1,239,421
Q1 23/24---7,350,702----0.9564---------7,030,596---------(2,477,930)-----4,552,503
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NETSEC deductions.
3)Profit is gross profit.
4)*Effective price.
5) NETSEC payment seems to have increased 9 fold from 0.386p to 3.6p/therm.
According to the last CPR.
01/01/2024 SAP, Actual Day £0.7097/th
02/01/2024 SAP, Actual Day £0.7072/th
03/01/2024 SAP, Actual Day £0.7831/th
04/01/2024 SAP, Actual Day £0.8584/th
05/01/2024 SAP, Actual Day £0.8708/th
06/01/2024 SAP, Actual Day £0.8537/th
07/01/2024 SAP, Actual Day £0.8862/th
01/01/2024 System Entry Energy, Saltfleetby, D+1 73,589 th
02/01/2024 System Entry Energy, Saltfleetby, D+1 72,034 th
03/01/2024 System Entry Energy, Saltfleetby, D+1 68,812 th
04/01/2024 System Entry Energy, Saltfleetby, D+1 73,816 th
05/01/2024 System Entry Energy, Saltfleetby, D+1 80,754 th
06/01/2024 System Entry Energy, Saltfleetby, D+1 80,564 th
07/01/2024 System Entry Energy, Saltfleetby, D+1 79.541 th
01/01/2024 SAP, Actual Day £0.7097/th
02/01/2024 SAP, Actual Day £0.7072/th
03/01/2024 SAP, Actual Day £0.7831/th
04/01/2024 SAP, Actual Day £0.8584/th
05/01/2024 SAP, Actual Day £0.8708/th
06/01/2024 SAP, Actual Day £0.8537/th
07/01/2024 SAP, Actual Day £0.8862/th
01/01/2024 System Entry Energy, Saltfleetby, D+1 73,589 th
02/01/2024 System Entry Energy, Saltfleetby, D+1 72,034 th
03/01/2024 System Entry Energy, Saltfleetby, D+1 68,812 th
04/01/2024 System Entry Energy, Saltfleetby, D+1 73,816 th
05/01/2024 System Entry Energy, Saltfleetby, D+1 80,754 th
06/01/2024 System Entry Energy, Saltfleetby, D+1 80,564 th
07/01/2024 System Entry Energy, Saltfleetby, D+1 80,564 th
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT
OCT----------1,858,101---1.0716---------1,991,096---------(1,038,509)-------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043---2.7515--------4,955,520-----------(4,029,598)------925,922
Q1 22/23----5,643,570---1.6785--------9,472,956----------(6,383,350)----3,089,606
JAN----------1,908,520----1.5572--------2,971,995----------(1,086,115)----1,885,880
FEB----------1,680,025----1.3315--------2,236,879------------(555,291)----1,681,588
MAR----------1,833,369----1.0877-------1,994,119------------(145,247)----1,848,872
Q2 22/23----5,421,914----1.3285--------7,202,993---------(1,786,653)----5,416,340
H1 22/23---11,065,484----1.5070-----16,675,949----------(8,170,003)----8,505,946
APR-----------1,751,187-----0.9788------1,714,147-------------(481,366)---1,232,781
MAY-----------2,604,716-----0.7109------1,851,800--------------43,389-----1,895,189
JUN-----------2,374,495-----0.7673------1,873,273-------------(89,099)----1,784,174
Q3 22/23-----6,730,398-----0.8178------5,439,220-----------(527,076)-----4,912,144
JULY----------2,957,490-----0.7000-------2,070,358-----------(540,036)-----1,530,322
AUG-----------2,677,659-----0.8171-------2,187,876-----------(722,030)-----1,465,846
SEP------------2,306,790-----0.8951-------2,064,802-----------(808,091)-----1,297,194
Q4 22/23------7,941,939-----0.7962-------6,323,036----------(2,070,157)---4,252,879
H2 22/23-----14,672,337-----0.8017-----11,762,256----------(2,597,233)---9,165,023
FY 22/23-----25,737,821-----1.1049------28,438,205--------(10,767,236)--17,670,969
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
The partial crystalisation of the last three swaps will cost Angus a net £6,255,450.
-----PERIOD------MULTIPLIER---CLOSE PRICE--OUTFLOW---FIX PRICE----INFLOW-----(LOSS)
-----Q4 23/24------1,840,000-------1.2260----------2,255,840-----0.3560------655,040----(1,600,800)
Q1+Q2 24/25------3,640,000-------1.3700----------4,986,800-----0.4500----1,638,000----(3,348,800)
------Q3 24/25------1,820,000-------1.0700----------1,947,400-----0.3525------641,550----(1,305,850)
TOTALS--------------7,300,000-------1.2589----------9,190,040-----------------2,934,590----(6,255,450)
So if the average NBP price per therm is higher than the CLOSE PRICE in a given period, Angus
will gain from the crystalisation. If the price is lower then they will have paid more than they
needed to. For the whole 1 year period NBP spot gas must average £1.2589 or higher.
Since the CLOSE PRICES were set the Heren NBP prices have moved North. 6 to 7% across
the curve.
The partial crystalisation of the last three swaps will cost Angus a net £6,255,450.
-----PERIOD------MULTIPLIER---CLOSE PRICE--OUTFLOW---FIX PRICE----INFLOW-----(LOSS)
-----Q4 23/24------1,840,000-------1.226-----------2,255,840-----0.3560------655,040----(1,600,800)
Q1+Q2 24/25------3,640,000-------1.370-----------4,986,800-----0.4500----1,638,000----(3,348,800)
------Q3 24/25------1,820,000-------1.070-----------1,947,400-----0.3525------641,550----(1,305,850)
TOTALS--------------7,300,000-------------------------9,190,040------------------2,934,590---(6,255,450)
So if the average NBP price per therm is higher than the CLOSE PRICE in a given period, Angus
will gain from the crystalisation. If the price is lower then they will have paid more than they
needed to.
Since the CLOSE PRICES were set the Heren NBP prices have moved North. 6 to 7% across
the curve.
The partial crystalisation of the last three swaps will cost Angus a net £6,255,450.
-----PERIOD------MULTIPLIER---CLOSE PRICE--OUTFLOW---FIX PRICE----INFLOW-----(LOSS)
-----Q4 23/24------1,840,000-------1.226-----------2,255,840-----0.3560------655,040----(1,600,800)
Q1+Q2 24/25------3,640,000-------1.370-----------4,986,800-----0.4500----1,638,000----(3,348,800)
------Q3 24/25------1,820,000-------1.070-----------1,947,400-----0.3525------641,550----(1,305,850)
TOTALS--------------7,300,000-------------------------9,190,040------------------2,934,590---(6,255,450)
So if the average NBP price per therm is higher than the close price in a given period Angus
will gain from the crystalisation. If the price is lower then they will have paid more than they
needed to.
Since the close prices were set the Heren NBP price curve has moved North 6 to 7% across
the curve.
Production period 4
4,500,000/92 days
MULTIPLIER 48,913
FIXED PRICE £0.3755
MERCURIA PAYMENT TO ANGUS = £18,367
MULTIPLIER 48,913
SPOT PRICE £0.
ANGUS PAYMENT TO MERCURIA = £
LOSS on SWAP is £
-----------------------------------------------------------------------------------------------------------------------------------
DAILY PRODUCTION therms
SPOT PRICE per THERM £0.8
GAS SALES PAYMENT BY SHELL TO ANGUS = £5
GAS SALES gross profit = £5
Month to date GAS SALES PROFIT £1,8
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT
JUL-----------------0-----------0---------------0-----------------(2,009,413)----(2,009,413)
AUG----------------0-----------0---------------0-----------------(3,522,853)----(3,522,853)
SEP---------1,220,442----2.5100--------3,063,355----------(1,915,195)-----1,148,160
Q4 21/22---1,220,446---2.5100---------3,063,355---------(7,447,461)----(4,384,106)
OCT----------1,858,101---1.0716---------1,991,096---------(1,038,509)-------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043---2.7515--------4,955,520-----------(4,029,598)------925,922
Q1 22/23----5,643,570---1.6785--------9,472,956----------(6,383,350)----3,089,606
JAN----------1,908,520----1.5572--------2,971,995----------(1,086,115)----1,885,880
FEB----------1,680,025----1.3315--------2,236,879------------(555,291)----1,681,588
MAR----------1,833,369----1.0877-------1,994,119------------(145,247)----1,848,872
Q2 22/23----5,421,914----1.3285--------7,202,993---------(1,786,653)----5,416,340
H1 22/23---11,065,484----1.5070-----16,675,949----------(8,170,003)----8,505,946
APR-----------1,751,187-----0.9788------1,714,147------------(481,366)---1,232,781
MAY-----------2,604,716-----0.7109------1,851,800--------------43,389-----1,895,189
JUN-----------2,374,495-----0.7673------1,873,273-------------(89,099)----1,784,174
Q3 22/23-----6,730,398-----0.8178------5,439,220-----------(527,076)-----4,912,144
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT
JUL-----------------0-----------0---------------0-----------------(2,009,413)----(2,009,413)
AUG----------------0-----------0---------------0-----------------(3,522,853)----(3,522,853)
SEP---------1,220,442----2.5100--------3,063,355----------(1,915,195)-----1,148,160
Q4 21/22---1,220,446---2.5100---------3,063,355---------(7,447,461)----(4,384,106)
OCT----------1,858,101---1.0716---------1,991,096---------(1,038,509)-------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043---2.7515--------4,955,520-----------(4,029,598)------925,922
Q1 22/23----5,643,570---1.6785--------9,472,956----------(6,383,350)----3,089,606
JAN----------1,908,520----1.5572--------2,971,995----------(1,086,115)----1,885,880
FEB----------1,680,025----1.3315--------2,236,879------------(555,291)----1,681,588
MAR----------1,833,369----1.0877-------1,994,119------------(145,247)----1,848,872
Q2 22/23----5,421,914----1.3285--------7,202,993---------(1,786,653)----5,416,340
H1 22/23---11,065,484----1.5070-----16,675,949----------(8,170,003)----8,505,946
APR-----------1,751,187-----0.9788------1,714,147-------------(481,366)---1,232,781
MAY-----------2,604,716-----0.7109------1,851,800----------------43,389-----1,895,189
JUN-----------2,374,495-----0.7673------1,873,273---------------(89,099)----1,784,174
Q3 22/23-----6,730,398-----0.8178------5,439,220-------------(527,076)-----4,912,144
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.8493
ANGUS PAYMENT TO MERCURIA = £56,874
LOSS on SWAP is £6,004 (made up from a loss on swap 1 £27,336 and a profit on swap 2 £21,332)
-----------------------------------------------------------------------------------------------------------------------------------
DAILY PRODUCTION therms 65,703
SPOT PRICE per THERM £0.8493
GAS SALES PAYMENT BY SHELL TO ANGUS = £55,802
GAS SALES gross profit = £49,798
Month to date GAS SALES PROFIT £1,720,356
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
------------------------------------------------------------------------------------------------------------------------------
H1 RESULTS
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT
OCT----------1,858,101---1.0716---------1,991,096---------(1,038,509)-------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043---2.7515--------4,955,520-----------(4,029,598)------925,922
Q1 22/23----5,643,570---1.6785--------9,472,956----------(6,383,350)----3,089,606
JAN----------1,908,520----1.5572--------2,971,995----------(1,086,115)----1,885,880
FEB----------1,680,025----1.3315--------2,236,879------------(555,291)----1,681,588
MAR----------1,833,369----1.0877-------1,994,119------------(145,247)----1,848,872
Q2 22/23----5,421,914----1.3285--------7,202,993---------(1,786,653)---5,416,340
H1 22/23---11,065,484----1.5070-----16,675,949----------(8,170,003)---8,505,946
£4.175m extra swap payment due in June 23 but don't know if it's for missed payments
in JUL + AUG 22 or from SEP,OCT,NOV 22 which coincidentally add up to £4.268m.
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT------CUM PROFIT
SEP---------1,220,442----2.5100--------3,063,355----------(1,915,195)-----1,148,160
Q4 21/22---1,220,446---2.5100---------3,063,355----------(1,915,195)----1,148,160
OCT----------1,858,101---1.0716---------1,991,096---------(1,038,509)-------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043---2.7515--------4,955,520-----------(4,029,598)------925,922
Q1 22/23----5,643,570---1.6785--------9,472,956----------(6,383,350)----3,089,606
JAN----------1,908,520----1.5572--------2,971,995----------(1,086,115)----1,885,880
FEB----------1,680,025----1.3315--------2,236,879------------(555,291)----1,681,588
MAR----------1,833,369----1.0877-------1,994,119------------(145,247)----1,848,872
Q2 22/23----5,421,914----1.3285--------7,202,993---------(1,786,653)---5,416,340
H1 22/23---11,065,484----1.5070-----16,675,949----------(8,170,003)---8,505,946
APR-----------1,751,187-----0.9788------1,714,147------------(481,366)---1,232,781
MAY-----------2,604,716-----0.7109------1,851,800--------------43,389-----1,895,189-----12,782,076
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
--------------THERMS---AVE PRICE*---GAS SALES----SWAP profit (loss)---PROFIT------CUM PROFIT
SEP---------1,220,442----2.5100--------3,063,355----------(1,915,195)-----1,148,160
Q4 21/22---1,220,446---2.5100---------3,063,355----------(1,915,195)----1,148,160
OCT----------1,858,101---1.0716---------1,991,096---------(1,038,509)-------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043---2.7515--------4,955,520-----------(4,029,598)------925,922
Q1 22/23----5,643,570---1.6785--------9,472,956----------(6,383,350)----3,089,606
JAN----------1,908,520----1.5572--------2,971,995----------(1,086,115)----1,885,880
FEB----------1,680,025----1.3315--------2,236,879------------(555,291)----1,681,588
MAR----------1,833,369----1.0877--------1,994,119-----------(145,247)----1,848,872
Q2 22/23----5,421,914----1.3285--------7,202,993---------(1,786,653)---5,416,340
H1 22/23---11,065,484----1.5070------16,675,949---------(8,170,003)---8,505,946
APR-----------1,751,187-----0.9788------1,714,147------------(481,366)---1,232,781
MAY-----------2,604,716-----0.7109------1,851,800--------------43,389-----1,895,189-----12,782,076
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
--------------THERMS---AVE PRICE*---GAS SALES---SWAP profit (loss)--PROFIT------CUM PROFIT
SEP---------1,220,442----2.5100--------3,063,355---------(1,915,195)-----1,148,160
Q4 21/22---1,220,446---2.5100--------3,063,355----------(1,915,195)----1,148,160
OCT----------1,858,101---1.0716--------1,991,096----------(1,038,509)------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043----2.7515-------4,955,520-----------(4,029,598)------925,922
Q1 22/23----5,643,570----1.6785-------9,472,956----------(6,383,350)----3,089,606
JAN-----------1,908,520----1.5572-------2,971,995----------(1,086,115)----1,885,880
FEB-----------1,680,025----1.3315-------2,236,879------------(555,291)----1,681,588
MAR-----------1,833,369-----1.0877-------1,994,119----------(145,247)----1,848,872
Q2 22/23-----5,421,914-----1.3285------7,202,993---------(1,786,653)---5,416,340
H1 22/23----11,065,484-----1.5070-----16,675,949--------(8,170,003)---8,505,946
APR-------------1,751,187-----0.9788------1,714,147-----------(481,366)---1,232,781
MAY-------------2,604,716-----0.7109------1,851,800-------------43,389----1,895,189-----12,782,076
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
--------------THERMS---AVE PRICE*---GAS SALES---SWAP profit (loss)--PROFIT------CUM PROFIT
SEP---------1,220,442----2.5100--------3,063,355---------(1,915,195)-----1,148,160
Q4 21/22---1,220,446---2.5100--------3,063,355----------(1,915,195)----1,148,160
OCT----------1,858,101---1.0716--------1,991,096----------(1,038,509)------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043----2.7515-------4,955,520----------(4,029,598)------925,922
Q1 22/23----5,643,570----1.6785-------9,472,956----------(6,383,350)----3,089,606
JAN-----------1,908,520----1.5572-------2,971,995----------(1,086,115)----1,885,880
FEB-----------1,680,025----1.3315-------2,236,879-------------(555,291)---1,681,588
MAR-----------1,833,369----1.0877-------1,994,119------------(145,247)---1,848,872
Q2 22/23-----5,421,914-----1.3285------7,202,993-----------(1,786,653)---5,416,340
H1 22/23----11,065,484-----1.5070-----16,675,949----------(8,170,003)----8,505,946
APR-------------1,751,187-----0.9788------1,714,147-------------(481,366)----1,232,781
MAY-------------2,604,716-----0.7109------1,851,800---------------43,389------1,895,189-----12,782,076
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
MULTIPLIER 2,075,892
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £1,577,056
MULTIPLIER 2,075,892
AVE SPOT PRICE £0.7294
ANGUS PAYMENT TO MERCURIA = £1,533,581
PROFIT on SWAP is £43,389 (made up from a loss on swap 1 £652,369 and a profit on swap 2 £695,758)
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MONTHLY PRODUCTION therms 2,604,716
AVE SPOT PRICE per THERM £0.7294
GAS SALES PAYMENT BY SHELL TO ANGUS = £1,890,207
Monthly GAS SALES PROFIT £1,933,596
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.6348
ANGUS PAYMENT TO MERCURIA = £42,508
PROFIT on SWAP is £8,362 (made up from a loss on swap 1 £14,959 and a profit on swap 2 £23,321)
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DAILY PRODUCTION therms 102,099
SPOT PRICE per THERM £0.6348
GAS SALES PAYMENT BY SHELL TO ANGUS = £64,812
GAS SALES gross profit = £72,944
Month to date GAS SALES PROFIT £1,933,596
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
--------------THERMS---AVE PRICE*---GAS SALES---SWAP profit (loss)--PROFIT------CUM PROFIT
SEP---------1,220,442----2.5100--------3,063,355---------(1,915,195)-----1,148,160
Q4 21/22---1,220,446---2.5100--------3,063,355----------(1,915,195)----1,148,160
OCT----------1,858,101---1.0716--------1,991,096----------(1,038,509)------952,587
NOV----------1,984,426---1.2731--------2,526,340----------(1,315,243)----1,211,097
DEC----------1,801,043----2.7515-------4,955,520----------(4,029,598)------925,922
Q1 22/23----5,643,570----1.6785-------9,472,956----------(6,383,350)----3,089,606
JAN-----------1,908,520----1.5572-------2,971,995----------(1,086,115)----1,885,880
FEB-----------1,680,025----1.3315-------2,236,879-------------(555,291)---1,681,588
MAR-----------1,833,369----1.0877-------1,994,119------------(145,247)---1,848,872
Q2 22/23-----5,421,914-----1.3285------7,202,993-----------(1,786,653)---5,416,340
H1 22/23----11,065,484-----1.5070-----16,675,949----------(8,170,003)----8,505,946
APR-------------1,751,187-----0.9788------1,714,147-------------(481,366)----1,232,781-----10,886,887
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.6128
ANGUS PAYMENT TO MERCURIA = £41,038
PROFIT on SWAP is £9,832 (made up from a loss on swap 1 £13,693 and a profit on swap 2 £23,525)
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DAILY PRODUCTION therms 103
SPOT PRICE per THERM £0.6128
GAS SALES PAYMENT BY SHELL TO ANGUS = £63,
GAS SALES gross profit = £73,
Month to date GAS SALES PROFIT £1,
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
---------------THERMS------AVE PRICE*-----GAS SALES----SWAP LOSS----PROFIT------CUM PROFIT
SEP----------1,220,442-------2.5100---------3,063,355------1,915,195-----1,148,160
Q4 21/22----1,220,446-------2.5100---------3,063,355------1,915,195-----1,148,160
OCT----------1,858,101-------1.0716---------1,991,096------1,038,509-------952,587
NOV----------1,984,426-------1.2731---------2,526,340------1,315,243-----1,211,097
DEC----------1,801,043-------2.7515----------4,955,520------4,029,598-------925,922
Q1 22/23----5,643,570-------1.6785----------9,472,956------6,383,350-----3,089,606
JAN----------1,908,520-------1.5572----------2,971,995------1,086,115-----1,885,880
FEB----------1,680,025-------1.3315----------2,236,879---------555,291-----1,681,588
MAR----------1,833,369-------1.0877----------1,994,119--------145,247------1,848,872
Q2 22/23----5,421,914-------1.3285---------7,202,993-------1,786,653------5,416,340
H1 22/23---11,065,484-------1.5070-------16,675,949-------8,170,003------8,505,946
APR-----------1,751,187-------0.9788--------1,714,147----------481,366-------1,232,781-----10,886,887
1)Gas price is sap not NBP.
2)Gas sales includes Shell and NTSEC deductions.
3)Profit is gross profit.
4)*Effective price.