Wholesale Energy Market Review 15 October 2021

Wholesale Market News

Headlines The higher wholesale price benchmarks set across the last month continued again this week, albeit showed signs of softening from the recent spell of strong day-on-day price volatility. Day-ahead gas slipped 1.7% to 226.00p/th, following a more comfortable supply picture through both higher domestic and Norwegian supply volumes. Day-ahead power fell 6.1% to £200.00/MWh,

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Spreadsheets aren’t databases – is it time to change?

Ensuring your data is good quality, consistent and reliable is important to be able to understand and report on your energy data. Choosing the correct system to do this is key to successfully utilising your data to identify anomalies, optimise your energy efficiency and make cost savings. Despite spreadsheets being a popular tool to manage

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Wholesale Energy Market Review 11 October 2021

Wholesale Market News

Headlines It was a relatively mixed week for gas and power contracts this week, with the most pronounced losses seen on the far-curve, with near-term contracts continuing to hold onto unseasonably high price points. Day-ahead gas rose 2.2% to 230.00p/th, with the global gas supply outlook remaining notably tight. In Support, day-ahead prices reach their

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Wholesale Energy Market Review 1 October 2021

Wholesale Market News

Headlines This week represented another bullish week for gas and power contracts, with significant gains most pronounced in shorter-term contracts. Day-ahead gas rose 35.5% to 225.00p/th, continuing to benefit from an on-going tighter global gas supply outlook. The day-ahead contract also reached a record high on 1 October at 225.00p/th. Day-ahead power trends mirrored the

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TEAM Energy strengthens its commercial Consultancy with two new appointments

In a move to further expand our regional offering, we have appointed two Commercial Energy Consultants, enabling the business to offer more local and competitive energy services to customers. Accredited Energy Assessors, Tom McLeish and James Bradley, have joined TEAM as part of our strategic growth plans, and development of our service offering. A former

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Wholesale Energy Market Review 24 September 2021

Wholesale Market News

Headlines Movements in gas and power markets varied this week, but generally continue to hold onto the more elevated price points set in recent weeks. In support of this, day-ahead gas rose 3.4% to 166.00p/th, despite much stronger Norwegian gas supply into GB and higher domestic production. Gains on the day-ahead gas contract can however

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Wholesale Energy Market Review 20 September 2021

Wholesale Market News

Headlines The bullish and unprecedented highs observed across wholesale markets continued again this week, with record highs seen across gas and power day-ahead markets. Day-ahead gas rose 15.7% to 160.50p/th, reaching an all-time high on 15 September at 187.50p/th, driven by higher gas-for-power demand and a backdrop of tighter gas markets with continuing maintenance works

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Wholesale Energy Market Review 10 September 2021

Wholesale Market News

Headlines Despite some Friday-on-Friday downward movements in day-ahead contracts, gas and power contracts have generally held onto the significant and unseasonably highs set across recent months. In support of this, day-ahead gas rose 4.3% to 138.75p/th, aided by periods of system undersupply and lowering wind output calling for higher gas-for-power demand. Day-ahead power fell 28.8%

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Wholesale Energy Market Review 3 September 2021

Wholesale Market News

Headlines All power and gas contracts increased this week, with many hitting record highs. Both day-ahead gas and power reached their highest levels on our records, dating back to 2008. Day-ahead gas jumped 14.2% to 133.0p/th and day-ahead power leapt 121.2% to £240.0/MWh. Prices were driven higher by forecasts of tight margins next week, amid

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COP25 vs COP26: What’s next for global climate change action?

Protest image sign

With the countdown on to the COP26 Summit takes place in Glasgow, it is expected that all eyes will be on the nations at the Summit to progress with negotiations and set ambitious, achievable targets to tackle climate change. Now two years on from the last event, will this year’s summit achieve what COP25 could

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Wholesale Energy Market Review 27 August 2021

Wholesale Market News

Headlines Bullish momentum across gas and power markets continued this week, following a short-lived bearish period of prices in the week prior. Subsequently, day-ahead gas rose 12.8% to 116.50p/th, following a stronger demand profile observed throughout the majority of the week, combined with lowering Norwegian gas flows, restricting gas supply into GB in turn. Day-ahead

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TEAM Energy expands its regional offering with Northern based Energy Consultant appointment

Elmhurst accredited Commercial Energy Assessor, Blessing Amin, has joined TEAM Energy as part of the our strategic growth plans, and to provide a more competitive service offering to customers based in the Midlands and North of England. A Level 4 Energy Performance Certificate (EPC) and Display Energy Certificate (DEC) assessor, Blessing is experienced at building

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Wholesale Energy Market Review 20 August 2021

Wholesale Market News

Headlines On balance, the picture for gas and power prices this week was predominately mixed, but slightly favouring a more bearish outlook. Whilst a significant amount of contracts across gas and power markets fell this week, prices generally remain at significant highs, achieving record highs in the week also. Day-ahead gas fell 6.1% to 103.25p/th,

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Wholesale Energy Market Review 13 August 2021

Wholesale Market News

Headlines The bullish picture for gas and power markets generally continued this week, with most contracts rising or holding onto recent gains. Subsequently, day-ahead gas rose 0.9% to 110.00p/th, supported by a back-drop of low gas in storage across Europe and the UK. Day-ahead power looking at Friday-on-Friday price movements, remained unchanged at £105/MWh, maintaining

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TEAM’s Net Zero and Carbon Reduction Consultancy services helping organisations meet their net zero challenge’s

The science is clear, the UK needs to change its carbon emissions output to tackle the growing climate crisis. The UK has a target to reduce emissions 68% by 2030 and 78% by 2035, with the goal of achieving net-zero emissions by 2050. In response to the mounting pressure to meet these targets, from the

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Wholesale Energy Market Review 6 August 2021

Wholesale Market News

Headlines Retaining their bullish momentum, the majority of gas and power contracts reported gains this week. Day-ahead gas rose 6.9% to 109.00p/th, finding support from lower UKCS production and a drop in Norwegian imports during the week, alongside forecasts of increased gas-for-power demand at the week’s end. Despite reducing mid-week, day-ahead gas prices reached a

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Wholesale Energy Market Review 30 July 2021

Wholesale Market News

Headlines It was another mostly bullish week for gas and power contracts in GB this week, continuing trends observed across much of July. Day-ahead gas rose 13.3% to 102.00p/th, following periods of undersupply during the week and buoyed by prolonged maintenance works across the NCS reducing flows into GB from Norway. Day-ahead gas prices reached

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Experienced performance and contracts manager joins TEAM’s growing Energy Bureau

Matthew Cooper

Former contracts manager for Opus Energy, Matthew Cooper, has joined our Energy Bureau department to support its continued growth and deliver customer service excellence. Strengthening the company’s Service Delivery team, Matthew will manage a number of customer relationships, and help drive performance improvements across our portfolio management and bill validation service. Matthew has over 10-years’ experience working

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Wholesale Energy Market Review 23 July 2021

Wholesale Market News

Headlines It was a largely bullish week again for GB gas and power markets this week, building on recent upward drivers. Subsequently, day-ahead gas rose 3.1% to 90.00p/th, rebounding from losses in the week prior, driven by the continued low levels of gas in storage and reduced North Sea pipeline flows in the week .

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Wholesale Energy Market Review 16 July 2021

Wholesale Market News

Headlines It was a predominately bearish week for gas and power contracts this week, slipping from record highs across most markets. As a result, day-ahead gas fell 3.5% to 87.30p/th, weighed by periods of system oversupply and generally wavering demand throughout the week . Similarly, day-ahead power dropped 4.9% to £92.25/MWh, falling from record highs

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Wholesale Energy Market Review 9 July 2021

Wholesale Market News

Headlines It was a relatively mixed week for pricing fundamentals across gas and power markets this week, with competing bullish and bearish trends observed. Day-ahead gas fell 7.5% to 90.50p/th, but still remained significantly higher than expected for this time of year in what was quite a volatile week for gas prices. Periods of system

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Stepping up to net zero before it’s too late

Stepping up to net zero before it's too late

As pressure mounts on UK businesses to be working towards the Government’s net zero target, now is the time for them to address how a net zero strategy can become part of their purpose. Whilst 2050 seems like a long way off, mitigating climate change, improving climate resilience, and protecting our planet for the future

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Wholesale Energy Market Review 2 July 2021

Wholesale Market News

Headlines Power and gas contracts continued their recent bullish run this week, with record highs observed across both day-ahead contracts. Day-ahead gas leapt 21.0% to 97.85p/th, the contracts highest price since March 2018. Near-term gas prices have been supported by high gas-for-power demand, coupled with curtailed Norwegian supplies and low gas storage levels. Longer dated

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Wholesale Energy Market Review 25 June 2021

Wholesale Market News

Headlines The majority of power and gas contracts increased this week, with all underlying commodity prices also rising. Day-ahead gas jumped 13.2% to 80.90p/th, driven higher during the week by colder temperatures and restricted flows from Norway. Day-ahead power rose 8.3% to £88.00/MWh, following the gas market higher, with forecasts of weak wind output early

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Utilities Professional joins our Energy Bureau

Rebecca Ireland, Recovery and Data Team Manager

A newly appointed utilities expert to lead the team of recovery and data specialists for our outsourced bill validation and cost recovery service. Experienced team manager, Rebecca Ireland, has joined our Energy Bureau service to lead the Recovery and Data Team and contribute to the continued growth in performance, efficiency, and quality of the Bureau

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Wholesale Energy Market Review 18 June 2021

Wholesale Market News

Headlines It was a relatively mixed week for pricing fundamentals across gas and power markets this week, with day-ahead and short-term contracts rising, whilst longer dated seasonal contracts generally retreated. Consequently, day-ahead gas rose 3.0% to 71.48p/th, following increased gas-for-power demand, driven by lower wind output in the week. Day-ahead power rose 6.9% to £81.25/MWh,

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Wholesale Energy Market Review 11 June 2021

Wholesale Market News

Headlines Most power and gas contracts rose this week. Day-ahead gas rose 11.0% to 69.40p/th, following periods of system undersupply, combined with lowering temperatures as the week matured, with these expected to reduce further into next week. Day-ahead power rose 2.7% to £76.00/MWh, following gas prices higher on the near curve and benefitting from lowering

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Top tips for making your HVAC more efficient this summer

Sunshine on a commercial building

We know that seasonal change has an impact on how we manage our energy, which is why energy professionals use a number of techniques to keep on top of energy wastage and minimise consumption at different times of the year. Some of these tactics may need investment, but basic principles of energy efficiency can make

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Wholesale Energy Market Review 4 June 2021

Wholesale Market News

Headlines Wholesale price movements were mixed this week. Day-ahead gas rose 1.2% to end the week at 62.50p/th, despite ongoing warm temperatures, driven higher towards the end of the week on forecasts of increased gas-for-power demand. August 21 gas lost 4.6% to 61.99p/th, while winter 21 gas boosted 2.8% to 70.29p/th. Day-ahead power went up

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Wholesale Energy Market Review 28 May 2021

Wholesale Market News

Headlines It was a largely bearish week for most tracked gas and power contracts this week, with some exceptions in the longer dated seasonal contracts. In support of these bearish movements, day-ahead power fell 0.3% to £73.00/MWh, afflicted by warmer temperatures as the week matured combined with wavering demand and lowering gas prices feeding through

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TEAM expands its consultancy with new BRUKL and SBEM services

Construction

Following over a year of lockdown restrictions, with activity levels at a seven-year high, the construction industry is very much at the forefront of the economic recovery. With it, is mounting pressure on the sector to align itself with a more sustainable ethos in its approach to new build projects. New buildings and infrastructure account

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Wholesale Energy Market Review 21 May 2021

Wholesale Market News

Headlines All gas and power contracts recorded losses this week. Day-ahead power was down 10.7% to end the week at £73.25/MWh, amid stronger wind output, but remains unseasonably high with strong demand and high gas prices lending support. All seasonal power contracts declined last week, down on average by 3.6%. Winter 21 power decreased 3.9%

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Wholesale Energy Market Review 14 May 2021

Wholesale Market News

Headlines It was a collectively bullish week across most tracked gas and power contracts this week. In support of this, day-ahead gas rose 6.9% to 66.25p/th, following cooler temperatures at the weeks start and higher gas-for-power demand amid weaker wind generation. Day-ahead power rose 18.4% to £82/MWh, finding support from prolonged periods of weaker wind

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Energy management series: Project planning

Solid assessment of energy data and thorough inspection of your energy estate has so far given you the insights to make data-driven decisions for making savings and boosting your energy management and sustainability strategy. To take your business’s strategy to the next level, it is important to use your findings and start thinking strategically about

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Wholesale Energy Market Review 7 May 2021

Wholesale Market News

Headlines It was a largely bullish week again for gas and power markets. Day-ahead gas rose 0.4% to 62.00p/th, following periods of system undersupply, coupled with colder temperatures and a drop in LNG send out. Day-ahead power rose 11.7% to £69.25/MWh, with periods of notably low wind generation and reduced temperatures generally throughout the week.

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Wholesale Energy Market Review 30 April 2021

Wholesale Market News

Headlines It was a largely bullish week for gas and power markets this week, with exceptions on the day-ahead baseload power contract. Day-ahead gas rose 10.7% to 61.75p/th, supported by a consistently colder week, ultimately offsetting periods of system oversupply. Day-ahead power fell 7.5% to £62.00/MWh, weighed upon by strong and consistent wind generation throughout

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Ofgem’s Targeted Charging Review may be delayed, but it’s not going away

Ofgem’s Targeted Charging Review (TCR) initiative aims to modernise the electricity network and transform the management of the National Grid. The changes which address the way Distribution and Transmission charges are allocated are expected to save consumers between £4-5bn over the period to 2040. Despite the ambitious cost saving forecasts, the move isn’t without controversy.

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Wholesale Energy Market Review 23 April 2021

Wholesale Market News

Headlines It was a mixed week in terms of pricing fundamentals across gas and power markets this week, with majority of baseload power contracts rising, with the opposite said for gas contracts. Day-ahead gas fell 1.7% to 55.80p/th, following periods of system oversupply, strong LNG sendout and warmer weather. Conversely, day-ahead power rose 2.3% to

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Wholesale Energy Market Review 16 April 2021

Wholesale Market News

Headlines It was a collectively bullish week for gas and power contracts this week, building on price rises in recent weeks. Day-ahead gas rose 7.5% to 56.75p/th, following higher gas for power demand at the weeks start amid colder temperatures. Day-ahead power fell 1.5% to £65.5/MWh, on wavering demand as the week progressed and steadily

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Wholesale Energy Market Review 9 April 2021

Wholesale Market News

Headlines It was a largely bullish week again for gas and power contracts this week. Day-ahead gas rose 3.5% to 52.80p/th, supported by the colder weather experienced across the UK in recent days. Day-ahead power increased 16.7% to £66.5/MWh, following gains made on the gas near curve, whilst also supported by low wind output throughout

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TEAM’s latest consultancy service supports organisations affected by the updated Heat Network Regulations

Following the recent changes in Heat Network legislation to encourage the decarbonisation of district heat networks, we have launched a service to support organisations in assessing their compliance and mitigating the impact on their time and resources. Our new Heat Network Notification service can help organisations understand if they are required to comply with the

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Wholesale Energy Market Review 2 April 2021

Wholesale Market News

Headlines Last week was largely bullish GB for gas and power markets, with some exceptions in longer-dated contracts across gas and power. Day-ahead gas rose 9.7% to 51.00p/th, supported by gradually declining temperatures as the week progressed and delayed LNG tanker arrivals into GB. Similarly, day-ahead power jumped 19.4% to £57.00/MWh, following the gas curve

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Wholesale Energy Market Review 26 March 2021

Wholesale Market News

Headlines It was a largely bullish week for gas and power contracts, with some exceptions in day-ahead power and longer-term seasonal power contracts. As such, day-ahead power fell 24.9% to £47.75/MWh, with strong wind generation throughout periods of the week, coupled with wavering demand. Most seasonal power contracts declined this week, down on average by

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Reinforcing our Behaviour Change Programmes with EnCO Practitioner accreditation

Reinforcing our Behaviour Change Programmes with EnCO Practitioner accreditation

With the UK committed to reducing Greenhouse Gas (GHG) emissions to net zero by 2050, organisations are feeling the growing pressure to decarbonise and work towards becoming more sustainable. Our CPD accredited Behaviour Change Programmes for Sustainable Business supports organisations with transforming their company culture to become an Energy Conscious Organisation (EnCO), helping them work towards

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Wholesale Energy Market Review 19 March 2021

Wholesale Market News

Headlines It was a largely bearish week for gas and power markets this week. Day-ahead gas fell 6.4% to 43.80p/th, as the system ended the week oversupplied amid high levels of LNG send-out, while Asian LNG prices also fell. Similarly, day-ahead power fell 5.1% to £63.58/MWh, following gas prices lower and forecasts of higher wind

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Wholesale Energy Market Review 12 March 2021

Wholesale Market News

Headlines Gas and power contracts experienced bullish price movements this week. Day-ahead gas rose 4.7% to 46.80p/th, generally benefitting from reduced temperatures expected at the start of next week and forecast weaker wind generation, resulting in increased gas-for-power demand as a result. Day-ahead power remained static at £67.00/MWh, comparing Friday-on-Friday price movements. Increased wind generation

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Planning for a green future, looking past the 10-point plan

Timothy Holman

As we see a pathway out of the pandemic, TEAM’s Head of Consultancy, Timothy Holman examines what the Government’s net zero ambition really means to UK businesses and, in a countdown to the climate change summit, COP26, considers how they can be part of the journey to decarbonisation. Two years ago, when the UK became

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Wholesale Energy Market Review 5 March 2021

Wholesale Market News

Headlines It was a largely bullish week for gas and power contracts this week. Day-ahead gas rose 9.3% to 44.70p/th, as the system was largely undersupplied for the majority of the week. Day-ahead power similarly rose, lifting 1.6% to £67.00/MWh, following tight supply margins, with periods of correlated low wind output. April 21 gas was

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Wholesale Energy Market Review 26 February 2021

Wholesale Market News

Headlines It was a relatively bearish week again for gas and power contracts this week, with the exception of the day-ahead power contract and near-term peak power. Day-ahead power rose 14.7% to £65.95/MWh, with forecasts of notably reduced wind generation expected next week. Alternatively, Day-ahead gas fell 6.5% to 40.90p/th, following the system being oversupplied

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TEAM address the challenges of tenant billing with new suite of services

TEAM address the challenges of tenant billing with new suite of services

Our latest offering reinvents tenant billing, delivering sustainable and efficient property management. Since the launch of our flagship Sigma Tenant Billing software in 2019, we have been supporting commercial organisations to accurately and efficiently bill their tenants. Following the success of the software, we recognised there was a gap in the market for a more

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Wholesale Energy Market Review 19 February 2021

Wholesale Market News

Headlines It has been a largely bearish week for gas and power contracts this week, with some exceptions on longer term seasonal power contracts. Day-ahead gas fell 4.9% to 43.75p/th, following the subsidence of Storm Darcy and the associated cold weather front, leaving much warmer temperatures across much of the UK, reducing gas demand. Day-ahead

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Wholesale Energy Market Review 12 February 2021

Wholesale Market News

Headlines It has been a largely bearish week for both gas and power contracts, with some exceptions in seasonal summer contracts on the forward curve. Day-ahead gas fell 13.6% to 46.00p/th, with an oversupplied system at the week’s start and higher temperatures forecast for next week. Day-ahead power fell 7.4% to £57.4/MWh, following the gas

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Harnessing digital for successful energy management

COVID-19 has forced everyone to rethink their relationship with technology. As organisations have found themselves forced into accelerating their plans for digital transformation to enable remote working and continue operating effectively, if you haven’t already, now is the time to consider how digital can support your energy management. There are numerous benefits to digitising your

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Wholesale Energy Market Review 5 February 2021

Wholesale Market News

Headlines It has been a relatively mixed week in terms of pricing fundamentals for both gas and power markets. Most seasonal contracts saw price rises, while short-term and day-ahead contracts declined. Day-ahead gas fell 9.7% to 53.25p/th, with a period of warmer weather at the start of the week coupled with system oversupply. Similarly, day-ahead

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Wholesale Energy Market Review 29 January 2021

Wholesale Market News

Headlines This week has seen mixed price movements, with prices leaning towards bearish. Day-ahead gas fell 3.3% to 59.00p/th, afflicted by periods of warmer weather, particularly at the week’s start. Day-ahead power fell 28.5% to £71.5/MWh, with increased wind generation experienced for large parts of the week, coupled with reduced demand in parallel and the

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TEAM enhances its Consultancy offering with a suite of new services

2021 is expected to be a big year for climate action; with COP 26 in November and the UK Government’s target to achieve carbon net-zero by 2050 an ever-present message, there is pressure on organisations to ensure they are becoming consciously sustainable and on the pathway to decarbonisation. As the UK’s leading energy and sustainability

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Wholesale Energy Market Review 22 January 2021

Wholesale Market News

Headlines It has been a largely bullish week for gas and power price contracts, with exceptions coming from longer dated contracts. Day-ahead gas rose 1.7% to 61.00p/th, following forecasts of near-zero temperatures forecast early next week and periods of increased demand expected. Day-ahead power rose 52.9% to £100.00/MWh, following a notable drop off in wind

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Wholesale Energy Market Review 15 January 2021

Wholesale Market News

Headlines This week has seen mixed pricing fundamentals for both gas and power contracts. Day-ahead gas fell 2.8% to 60.00p/th, with temperatures increasing slightly towards seasonal normal levels, as well as periods of system oversupply. Day-ahead power fell 4.2% to £65.4/MWh, despite strong gains made throughout the week with tight supply margins and low levels

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Planning for 2021 and the pathway to green recovery

TEAM's Consultants

Covid-19 has disrupted organisations for the best part of 2020. Whilst it is clear that the pandemic is not behind us, and 2021 has not started quite as we hoped, organisations can still utilise their energy data and tools to support their green ambitions and ongoing recovery. Using insights gained from the last year can

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Wholesale Energy Market Review 8 January 2021

Wholesale Market News

Headlines Most power and gas contracts continue to follow bullish trends as observed prior to the Christmas break. Day-ahead power rose 6.6% to £68.25/MWh, finding support from tight supply margins, amid periods of low generation availability and high demand, with two Electricity Margin Notice (EMN) issued in the week on Wednesday and Friday. Day-ahead gas

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