Wholesale Energy Market Review 13 May 2022

Wholesale Market News

Headlines Wholesale gas and power prices continued on trend this week, with on-going volatility across both markets – with losses observed across most near-term contracts, with some gains observed further along the forward curve. Day-ahead gas fell 23.1% to 50.00p/th, following the continuation of much warmer weather across the UK, supressing domestic heating demand, coupled

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Wholesale Energy Market Review 06 May 2022

Wholesale Market News

Headlines This week saw mixed price movements; near-term gas and power contracts recorded strong losses, whilst longer dated seasonal contracts increased. Day-ahead gas fell 48.0% to 65.00p/th, following a prominent decline in price observed on Friday 6 May. Prices were driven by strong system oversupply aided by higher Norwegian flows alongside reduced LDZ demand, amid

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6 months on from COP26, what have we achieved?

We are now six months on from COP26, in which nations gathered in Glasgow to discuss the damage climate change is having on the world and made commitments to getting us back on track with the promise to limit global warming to 1.5°C. So, what progress has been made since the Summit in November 2021,

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Wholesale Energy Market Review 29 April 2022

Wholesale Market News

Headlines This week, the majority of gas and power contracts reported losses, despite news that Bulgaria and Poland saw gas supplies from Russia cut off on Wednesday, prompting notable bullish price movement mid-week. Day ahead gas dropped 20.9% to 125.00p/th, weighed on by system oversupply following a reduction in exports to Europe, amid maintenance at

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Wholesale Energy Market Review 22 April 2022

Wholesale Market News

Headlines Near-term gas and power contracts moved lower this week, while most seasonal contracts continued to increase. Day-ahead gas dropped 11.2% to 158.00p/th, with warmer temperatures leading to reduced demand towards the end of the week. Month-ahead gas lost 7.2% to 185.16p/th and June 22 gas slipped 4.1% to 209.97p/th. Seasonal gas contracts rose 3.8%

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Smart businesses combine ESOS and SECR

Business building

The Energy Savings Opportunity Scheme (ESOS) and Streamlined Energy and Carbon Reporting Scheme (SECR) have become part of the regulatory landscape since coming into force in 2014 and 2019, respectively. These separate schemes are both mandatory for large businesses that meet the scope, but many may not realise that some parts of the compliance overlap.

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Wholesale Energy Market Review 8 April 2022

Wholesale Market News

Headlines The majority of gas and power contracts retreated week-on-week, with the predominant bearish movements seen across near-term contracts, but with gains seen further out on the forward curve – a potential consequence of risk premimums being baked into longer-dated contracts as global wholesale energy supply disruption concerns continue in the wake of the war

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Another Government energy strategy that fails to consider efficiency

At the risk of sounding like a broken record, here we are again with a new energy strategy from the Government that does not factor in the role of tackling waste and investing in energy efficiency as part of solving the growing energy crisis. The Government’s latest plan, the British Energy Security Strategy, follows a

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Wholesale Energy Market Review 1 April 2022

Wholesale Market News

Headlines The majority of power and gas contracts increased this week. Day-ahead gas climbed 16.0% to 298.00p/th, supported by colder temperatures and an undersupplied gas system towards the end of the week. The new month-ahead contract (May 2022) gained 11.3% to 298.23p/th and June 2022 gas jumped 23.4% to 301.93p/th. Seasonal gas contracts moved 2.7%

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New Key Account Manager to support the expansion of TEAM’s services

Nigel Ebdon, Key Account Manager

Experienced market development and sales manager, Nigel Ebdon, has joined TEAM Energy to drive the organisation’s business development in the South. Nigel has over 30 years’ experience in sales across energy software, BEMS, and metering solutions. Working for Secure Meters, a global supplier of metering and controls, Nigel has spent the past five years launching

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Wholesale Energy Market Review 25 March 2022

Wholesale Market News

Headlines This week represented a relatively mixed outcome for gas and power prices, with conflicting market fundamentals dictating the movement of prices. Firstly, day-ahead gas rose 4.9% to 257.00p/th, following Russia announcing it will be looking to seek payment for its gas sold to ‘unfriendly’ countries in Roubles, sparking fears of exacerbated gas supply disruption

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Wholesale Energy Market Review 21 March 2022

Wholesale Market News

Headlines This week represented another largely bearish period for gas and power contracts, both for short-term delivery and further out on the forward curve too – helped by talks of a potential ceasefire in Ukraine, softening future gas disruption concerns amidst the conflict. As such, day-ahead gas fell 16.9% to 245.00p/th, following the aforementioned developments,

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How these 7 everyday items contribute to global warming

Cup of tea

We all like to do our bit for the planet. We use bags for life and separate our household waste for recycling. We turn down the thermostat, throw on an extra jumper and turn off lights to reduce our household energy consumption. As support for climate action grows, more and more of us are replacing

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Wholesale Energy Market Review 14 March 2022

Wholesale Market News

Headlines This week represented a slightly more bearish outlook overall across most gas and power contracts, despite the more macro bullish fundamentals at play, a consequence of the ensuing conflict in Ukraine at present. Day-ahead gas fell 25.3% to 295.00p/th, primarily due to much milder weather across GB this week and periods of higher wind

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Wholesale Energy Market Review 4 March 2022

Wholesale Market News

Headlines This week represented another overwhelmingly bullish week for wholesale gas and power prices, in what continues to be an unprecedented period for the European energy landscape, as conflict between Russia and Ukraine intensifies. Subsequently, day-ahead gas rose 54.9% to 395.00p/th, following the on-going conflict in Ukraine, fueling future gas supply disruption concerns, with Russia

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Wholesale Energy Market Review 25 February 2022

Wholesale Market News

Headlines This week has represented a significant upward shift in gas and power prices for near-term contracts as well as further along the forward curve, primarily in response to news surrounding the Russian invasion of Ukraine. Subsequently, day-ahead gas rose 50.0% to 255.00p/th, following the aforementioned news war has broken out in Ukraine, fuelling future

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Data analysis, research and reporting expert joins TEAM’s Energy Services team

Sustainability and carbon data analyst, Hannah Messham, has joined TEAM’s Energy Services to support customers with their energy management and carbon emissions targets. Hannah’s appointment makes a great addition to the business as it continues to expand its Energy Consultancy arm to offer a wider range of services designed to meet the UK’s accelerated efforts to

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Wholesale Energy Market Review 18 February 2022

Wholesale Market News

Headlines This week has seen the introduction of more bearish movements across most gas and power contracts, with more pronounced losses seen in near-term contracts while smaller losses were observed further along the forward curves. Day-ahead gas fell 4.1% to 170.00p/th, following periods of stronger Norwegian imports into GB, softening the general trend of tight

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Wholesale Energy Market Review 14 February 2022

Wholesale Market News

Headlines All gas contracts moved lower this week, with the majority of power contracts following suit. Day-ahead gas lost 5.7% to 177.20p/th, amid strong flows from Norway and forecasts of lower gas-for-power demand early next week. March 22 gas dropped 8.0% to 180.46p/th, while the April 22 contract fell 7.7% to 179.82p/th. Further along the

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Your Electricity Distribution (DUoS) charges are changing in April: what will it cost you?

Last year Ofgem announced changes to the way they charge consumers for the cost of distributing electricity around the national grid, known as the Distribution Use of System (DUoS) charges. With these changing in April this year, our Principal Consultant, Greg Armstrong, explains why affected organisations should act now to mitigate the inevitable impact on

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Wholesale Energy Market Review 4 February 2022

Wholesale Market News

Headlines This week was saw a largely bearish sentiment across GB gas and power contracts. The most pronounced week-on-week losses were obserbed in near-term contracts, due to easing pressures on system fundamentals in the week. Subsequently, day-ahead gas fell 14.2% to 188.00p/th, following periods of stronger Norwegian imports and increased LNG cargo deliveries to the

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Wholesale Energy Market Review 28 January 2022

Wholesale Market News

Headlines This week generally represented more bullish sentiment, noting there were some periods of bearish movements particularly across near-term power prices. Day-ahead power fell, lowering 33.6% to £181.00/MWh, with stronger wind and renewable generation seen across this week, a trend forecast to continue into next week. Alternatively, near-term gas prices enjoyed a period of strong

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Wholesale Energy Market Review 24 January 2022

Wholesale Market News

Headlines This week represented a relatively mixed picture for gas and power price movements, but slightly favouring a more bearish outlook overall, particularly on front-month and longer dated seasonal contracts more specifically. In support of this bearish sentiment, day-ahead gas fell 13.8% to 187.0p/th, following periods of increased Norwegian gas flows into the UK, softening

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Wholesale Energy Market Review 14 January 2022

Wholesale Market News

Headlines Generally, this week represented a predominately bearish sentiment for gas and power prices, with some exceptions on day-ahead contracts. In keeping with the largely downward movement of prices, day-ahead gas fell 4.4% to 217.00p/th, following periods of warmer weather stifling heating demand, a trend expected to extend into next week too. Increased LNG deliveries

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Midlands based Key Account Manager joins TEAM Energy’s growing sales team

Highly experienced, Leicester based sales and relationship manager, Andrea Johnson, has joined TEAM as the Key Account Manager for the Midlands, overseeing customer support and growth for the region. Having spent 15 years’ in the energy sector, driving both Third Party Intermediary (TPI) and B2B sales, Andrea is passionate about understanding a customer’s needs and

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Wholesale Energy Market Review 7 January 2022

Wholesale Market News

Headlines This week represented a largely bullish week for gas and power prices, after a period of relative price suppression in previous weeks, driven by milder weather and a healthier gas supply picture. Looking at this week more specifically, day-ahead gas rose 30.3% to 227.00p/th, following periods of colder weather in the week, coupled with

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