Wholesale Market Review

23 September 2022

Headlines This week, we observed the majority of wholesale gas and power contracts in GB retreat, in what continues to be a volatile period for wholesale energy prices, both in the UK as well as European markets. EU intervention on the current energy crisis continues to provide bearish sentiment for prices. As a result, day-ahead […]

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16 September 2022

Headlines This week, we observed the continuation of downward price movements across most tracked wholesale gas and power contracts. EU intervention on the current energy crisis continues to provide bearish sentiment for prices. There were also some bearish pricing levers for GB specifically this week as follows. Subsqeuntly, day-ahead gas fell 24.6% to 260.00p/th, following […]

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9 September 2022

Headlines This week, we observed a relatively mixed picture for wholsale gas and power contracts – with day-ahead contracts registering gains but select front-month contracts and some further dated seasonal contracts retreating. Day-ahead gas rose 15.0% to 345.00p/th, following reports that Russia has suspended flows via Nord Stream 1 indefinitely and periods of lowering Norwegian […]

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2 September 2022

Headlines This week, we observed price decline across all tracked GB gas and power wholesale contracts, in what continues to be a volatile period of time for wholesale energy both in GB as well as continental Europe, with conflicting geopolitical price levers in the form of changes to Russian gas supplies, combined with the global […]

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26 August 2022

Headlines All gas and power contracts increased this week, with many longer-term contracts hitting all-time highs. Gas contracts along the curve were pushed higher following news that Nord Stream 1 will shut down for three days of maintenance at the end of August. This fuelled concerns of tight supply margins, with Norwegian gas fields and […]

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5 June 2020

Headlines Most power and gas contracts rose this week, driven higher by a recovery in their respective day-ahead contracts. Day-ahead gas rose 27.7% to 8.75p/th as gas-for-power demand recovered from the low levels seen late last week. Day-ahead power rose 11.6% to £24.00/MWh, following a significant drop in wind generation compared to the end of […]

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15 July 2022

Headlines Wholesale power contracts experienced mixed price movements this week, whereas all tracked gas contracts registered week-on-week price losses. Subsequently, day-ahead gas fell 8.3% to 203.50p/th, following periods of system oversupply amid stronger UKCS production – coupled with anticipated lower demand into the weeks end, driven by the forecast heatwave in the UK. Conversely, day-ahead […]

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8 July 2022

Headlines Wholesale gas and power contracts shared collective price rises across all tracked contracts this week. Day-ahead gas rose 38.8% to 222.00p/th, following softer LNG-sendout due to maintenance at Dragon terminal, coupled with the threat of oil and gas strike action in Norway at the week’s start, in addition to select periods of outages across […]

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1 July 2022

Headlines Wholesale gas and power contracts registered gains compared to the previous week, though with some outliers against this trend. Day-ahead gas represented one of small number of contracts which saw prices retreat week-on-week, subsequently falling 5.9% to 160.00p/th, following periods of stronger Norwegian flows into GB, coupled with higher LNG-send out. Conversely, day-ahead power […]

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24 June 2022

Headlines This week has seen mixed movements across gas and power wholesale contracts, but with day-ahead markets enjoying price growth in the week on the back of some bullish market fundamentals at play. Subsequently, day-ahead gas rose 17.2% to 170.00p/th, helped by periods of increased gas-for-power demand at the week’s start and maintenance works at […]

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17 June 2022

Headlines This week favoured an overwhelmingly bullish outcome for gas and power prices, both in the near-term and further along the forward curve – underpinned by the uncertatinty surrounding future energy imports into European energy markets from Russia. Day-ahead gas rose 81.3% to 145.00p/th, buoyed by system undersupply as multiple outages at Norwegian gas fields […]

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10 June 2022

Headlines This week largely represented more bearish sentiment for wholesale gas and power contracts in GB, with some exceptions further along the forward curve. Subsequently, day-ahead gas fell 39.8% to 80.00p/th, weighed by elevated temperatures across the UK, coupled with higher Norwegian flows as maintenance works at Troll and Kollsnes gas fields ease. Day-ahead power […]

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