TABLE OF CONTENTS
1. EXECUTIVE SUMMARY 1
2. INTRODUCTION 4
2.1 Definitions 5
2.2 Methodology 5
2.3 Abbreviations 5
2.4 Market Positioning 6
2.4.1 Customers 8
2.4.2 Suppliers 9
2.5 UK Economy 10
2.6 Market Factors 14
2.6.1 Social Factors 14
2.6.2 Economic Factors 14
2.6.3 Environmental and Legislative Factors 16
3. MARKET SIZE AND TRENDS 20
3.1 Chapter Summary 21
3.2 Overview 21
3.3 Power Generation 24
3.4 Interruptible 25
3.5 Industrial 25
3.6 Commercial 26
3.7 Domestic 26
3.8 Regional Demand 29
3.9 Northern Ireland Gas Market 30
3.10 Gas Supply 31
3.11 Gas Prices 32
4. CAPITAL EXPENDITURE 34
4.1 Chapter Summary 35
4.2 Capital Expenditure 36
4.2.1 Introduction 36
4.2.2 Reported Capital Expenditure 39
4.2.3 Reported Repex Capital Expenditure 41
4.2.4 Overspend in Total Capital Expenditure 44
4.3 Forecast 46
4.3.1 Forecast Capital Expenditure 50
4.3.2 Forecast Repex Capital Expenditure 51
5. COMPANY PROFILES 53
5.1 Chapter Summary 54
5.2 Company Profiles 54
5.3 Development and Structure of the Gas Industry 54
5.3.1 National Grid Gas 55
5.3.2 Northern Gas Networks 57
5.3.3 Scotland Gas Networks 58
5.3.4 Southern Gas Networks 60
5.3.5 Wales & West Utilities 61
5.4 Gas Suppliers 62
5.4.1 British Gas Trading 62
5.4.2 EDF Energy 63
5.4.3 Npower 65
5.4.4 E.ON Energy (Formerly Powergen Retail) 67
5.4.5 ScottishPower Energy Retail 69
5.4.6 Southern Electric Gas 70
6. FORECAST 72
6.1 Chapter Summary 73
6.2 The Market 73
6.2.1 Distribution Networks Demand 74
6.2.2 Power Generation Demand 75
6.2.3 Imports 77
6.2.4 Exports 80
6.3 Gas Prices 80
6.4 The Industry 81
7. FURTHER SOURCES & CONTACTS 82
7.1 Trade Associations & Regulatory Bodies 83
7.2 Trade Exhibitions 83
7.3 Trade Magazines 83
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LIST OF TABLES
1: Proposed UK Import Terminals Projects 16
2: Segmentation of the Industrial Gas Consumption, by End Use Industries, UK, 2005-2009 22
3: Segmentation of Gas Consumption, by Non-Industrial Sectors, UK, 2005-2009 23
4: Gas Supplied for Electricity Generation, UK, 2005-2009 25
5: Gas Supplied to the Industrial Sector, UK 2005-2009 26
6: Gas Supplied to the Commercial Sector, UK 2005-2009 26
7: Analysis of the Development of Gas Supplied to the Domestic Sector, UK, 2005-2009 27
8: Segmentation of the UK Domestic Central Heating Installations, by Type of Fuel,
2006-2010 28
9: Gas Sales and Customers by Region, Great Britain, 2009 29
10: Total Gas Supply, UK, 2005-2009 31
11: Average Wholesale Gas Prices, 1996-2011 33
12: Total Gas Distribution Capital Expenditure, 2005/06-2009/10 36
13: Gas Distribution Total Capital Expenditure, by GDNs, 2002/03-2006/07 37
14: Gas Distribution Total Capital Expenditure, by GDNs, 2002/03-2006/07 38
15: Gas Distribution Total Capital Expenditure, by GDNs, 2006/07 and 2007/08 39
16: GDNs Reported Capital Expenditure, 2002/03-2006/07 39
17: Reported Capital Expenditure, by GDNs, 2002/03-2006/07 40
18: Gas Distribution Net Capital Expenditure, by GDNs, 2006/07 and 2007/08 41
19: GDNs Repex Capital Expenditure, 2002/03-2006/07 42
20: Repex Capital Expenditure, by GDNs, 2002/03-2006/07 43
21: Gas Distribution Net Replacement Expenditure, by GDNs, 2006/07 and 2007/08 44
22: Overspend On Capital and Non-Mains Repex Capital Expenditure, 2002/03-2006/07 45
23: Overspend On Capital and Non-Mains Repex Capital Expenditure, by GDNs,
2002/03-2006/07 45
24: Overspend On Capital and Non-Mains Repex Capital Expenditure, 2006/07 and
2007/08 46
25: Ofgem’s Allowed Revenue from Gas Distribution, by GDNs, 2007/08-2012/13 47
26: Ofgem’s Allowed Revenue from Gas Distribution, by GDNs, 2007/08-2012/13 48
27: Forecast Gas Distribution Total Capital Expenditure, 2010/11-2013/14 48
28: Forecast Gas Distribution Total Capital Expenditure, by GDNs, 2008/09-2012/13 49
29: Forecast Allowed Capital Expenditure, 2008/09-2012/13 50
30: Forecast Allowed Capital Expenditure, by GDNs, 2008/09-2012/13 51
31: Forecast Repex Capital Expenditure, 2008/09-2012/13 51
32: Forecast Repex Capital Expenditure, by GDNs, 2008/09-2012/13 52
33: Structure of the Distribution Network Operators, as at March 2010 55
34: Financial Analysis of National Grid Gas, 2006-2010 56
35: Key Financial Ratios for National Grid Gas, 2006-2010 56
36: Financial Analysis of Northern Gas Networks, 2005-2009 57
37: Key Financial Ratios for Northern Gas Networks, 2005-2009 58
38: Financial Analysis of Scotland Gas Networks, 2006-2010 59
39: Key Financial Ratios for Scotland Gas Networks, 2006-2010 59
40: Financial Analysis of Southern Gas Networks, 2006-2010 60
41: Key Financial Ratios for Southern Gas Networks, 2006-2010 61
42: Financial Analysis of Wales & West Utilities, 2006-2010 62
43: Key Financial Ratios for Wales & West Utilities, 2006-2010 62
44: Financial Analysis of British Gas Trading, 2005-2009 63
45: Key Financial Ratios for British Gas Trading, 2005-2009 63
46: Financial Analysis of EDF Energy, 2005-2009 64
47: Key Financial Ratios for EDF Energy, 2005-2009 65
48: Financial Analysis of Npower, 2005-2009 65
49: Key Financial Ratios for Npower, 2005-2009 66
50: Financial Analysis of Npower Gas, 2005-2009 67
51: Key Financial Ratios for Npower Gas, 2005-2009 67
52: Financial Analysis of E.ON Energy, 2005-2009 68
53: Key Financial Ratios for E.ON Energy, 2005-2009 68
54: Financial Analysis of ScottishPower Energy Retail, 2005-2009 69
55: Key Financial Ratios for ScottishPower Energy Retail, 2005-2009 70
56: Financial Analysis of Southern Electric Gas, 2006-2010 70
57: Key Financial Ratios for Southern Electric Gas, 2006-2010 71
58: Forecast Gas Supply and Demand, 2010/11-2019/20 74
59: Forecast Total Gas Demand by the Local Distribution Zones, 2010-2020 74
60: Forecast Power Generation Share by Fuel Type, 2009/2010-2019/2020 76
61: Forecast Gas Demand for NTS Power Generation, 2010-2020 76
62: Existing Import Terminals, Completed 77
63: Proposed UK Import Terminals Projects 78
64: Forecast Gas Supply, by Source, 2010/2011-2019/2020 78
65: Forecast Annual Supplies Level, by Terminal, 2010/2011-2019/2020 79
66: Forecast NTS Exports of Gas, 2010-2020 80
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