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Indigo Swan Mini Energy Report August 22

✓ Gas and Electricity Wholesale prices are showing extreme volatility.
✓ EU Gas Storage levels are an improved 80% full.
✓ Nord Stream 1 has closed for maintenance for three days.
Since our last Energy Report, Gas and Electricity Wholesale prices are lower.
Costs for the remainder of 2022 and the first quarter of 2023 are very high. Although 2023 and 2024 show better
value, there is still a considerable premium, but does provide an opportunity to contract longer and reduce the shorter
term % increases. Some energy suppliers are being very selective as to which contracts they will provide offers for.
On Tuesday the 30th, Gas and Electricity Wholesale prices saw significant falls. However, this was a market
adjustment, reversing last week’s increases, following the news that Nord Stream 1 is shutting down for a further
three days from the 31st. Once flows resume, they will continue at just 20% of capacity, due to ongoing maintenance.

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