UK wholesale electricity prices has been a focal point of discussion and analysis, especially given the recent volatility and price fluctuations. In this blog, TEAM Energy’s Service Delivery Director, Graham Paul, explores wholesale electricity price and what it means for businesses in the UK. The UK wholesale market energy crisis has been a challenging period
Headlines This week, the majority of baseload power and gas contracts moved lower. However, near-term contracts including day-ahead and month-ahead gas and power contracts rose from last week, with tighter gas supplies and lower wind generation the main drivers. The day-ahead contract was up 12.6% to end the week at £40.7/MWh, a two-week high, while
Headlines The majority of wholesale power and gas contracts fell week-on-week, as above seasonal normal temperatures caused by winds from the Sahara, led to weaker demand for gas, whilst power prices were pressured by an uptick in wind generation. Amid the record-breaking temperatures, day-ahead gas dropped to a two-year low of 25.2p/th on 26 June,
Headlines Baseload power contracts up to and including winter 19 power were down week-on-week, whilst contracts beyond this rose. Power prices mirrored their gas counterparts as warmer temperatures are expected next week. The day-ahead contract was 3.2% lower at £38.0/MWh, a fresh two-week low. Q319 power decreased 3.1% week-on-week to £39.4/MWh. This is the first
Headlines All wholesale power and gas contracts fell week-on-week. Gas prices have been pressured by forecasts of warmer weather amid comfortable gas supplies, which, combined with a drop in Brent crude oil prices, pushed both day-ahead and winter 19 gas contracts to one-month lows of 27.5p/th and 53.0p/th respectively. Month-ahead gas was down 6.7% to
