Wholesale Market Review

Energy Wholesale Market Review – 15 March 2024

Headlines Mixed movements were registered across tracked gas and power contracts this week, firstly finding upward support from disruption to Norwegian flows as maintenance occurs at fields across the Norwegian Continental Shelf effecting front-month contracts, in tandem with reduced LNG send-out from GB terminals. Consequently, April 24 gas was up 0.6% at 66.60p/th and May […]

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Energy Wholesale Market Review – 08 March 2024

Headlines Predominantly bullish gas price movements arose this week due to maintenance at gas terminals across the Norwegian Continental Shelf limiting flows to GB. Likewise, below-average temperatures acted to bolster domestic heating demand, and increase the requirement for gas-fired generation. As a result, day-ahead gas rose 6.0% to 68.50p/th. Similarly, day-ahead power rose 1.8% to […]

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Energy Wholesale Market Review – 04 March 2024

Headlines All power and gas contracts increased this week, amid lower temperatures boosting gas heating demand, and low wind outturn in the latter half of the week. Day-ahead gas rose 13.5% to 64.60p/th, following colder temperatures supporting rising gas heating demand, coupled with low LNG send out from the South Hook terminal on Friday. Day-ahead […]

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Energy Wholesale Market Review – 23 February 2024

Headlines This week saw a continued bearish pricing trend, with all tracked wholesale gas and power contracts in GB registering week-on-week price losses. Ongoing milder weather and increased wind power generation have kept near-term prices lower this week, while longer-dated contracts have taken price direction from wider movements in international commodity markets. Day-ahead gas fell […]

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Energy Wholesale Market Review – 16 February 2024

Headlines This week saw the continuation of a more bearish price movements, after what has represented a largely suppressed wholesale pricing environment in the opening two months of 2024. Falling near-term gas contract prices set a lot of the bearish sentiment for downward trending wholesale prices in the week, and in turn, prompted power to […]

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Energy Wholesale Market Review – 9 February 2024

Headlines Most wholesale gas and power contracts experienced losses this week, opposing the trend seen in the week previous. Day-ahead gas fell 0.4% to 69.00p/th, as increased Norwegian flows provided a bearish pricing environment. Opposing its gas counterpart however, day-ahead power rose 25.2% to £67.00/MWh, with lower wind generation projections in the week ahead acting […]

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Energy Wholesale Market Review – 2 February 2024

Headlines Most wholesale gas and power contracts experienced week-on-week gains this week. However, we continue to observe subdued wholesale energy prices compared to the year previous. Day-ahead gas rose 5.1% to 69.25p/th, despite above-average temperature forecasts in tandem with strong flows from the Norwegian Continental Shelf providing greater supply security to GB. Opposing this, day-ahead […]

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Energy Wholesale Market Review – 26 January 2024

Headlines It was a predominantly bearish week for gas and power contracts this week, continuing the trend of decreasing wholesale prices observed across much of 2023 and 2024 to date. Day-ahead gas fell 5.9% to 65.90p/th, following periods of above-average temperatures during the week and further limited by reduced maintenance works across the Norwegian Continental […]

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Energy Wholesale Market Review – 19 January 2024

Headlines Wholesale gas and power prices saw downward price movements throughout the week in GB, with strong European gas storage levels and stable Norwegian and UK Continental Shelf flows acting to soften margins, resulting in most power and gas contracts falling, with the one exception to this downward trend coming from the summer 25 contract […]

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Energy Wholesale Market Review – 12 January 2024

Headlines We observed consistent bearish gas price movements across all tracked contracts this week, a likely consequence of the continued strong EU gas storage levels, at approximately 82% full at the time of writing. As a result, day-ahead gas fell 8.6% to 80.00p/th, despite below-average temperatures increasing domestic heating demand. Similarly, February 24 gas was […]

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Energy Wholesale Market Review – 05 January 2024

Headlines This week saw a reversal of recent bearish price movements across most gas and power wholesale contracts. Subsequently, we saw the majority of gas and power contracts increase week-on-week. Day-ahead gas rose 9.4% to 87.50p/th, due to lowering temperatures seen during the week, boosting gas demand for heating. Current forecasts also point towards an […]

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Energy Wholesale Market Review – 22 December 2023

Headlines This week, most power and gas wholesale contracts rose, reversing the overall bearish movement seen across contracts throughout 2023 to date. Day-ahead gas rose 2.3% to 77.00p/th, following declining wind generation forecasts, boosting gas-for-power demand. Day-ahead power rose 7.7% to £70.00/MWh, following its gas counterpart, with further gains supported by a strong drop in […]

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