Wholesale Market Review

03 June 2022

Headlines Wholesale gas and power prices were relatively mixed throughout last week, with losses observed on day-ahead power contract and front month contracts more generally, with gains seen further out along the forward curve – a relatively consistent trend observed in recent weeks. Day-ahead gas rose 14.7% to 133.00p/th, following periods of stronger gas-for-power demand […]

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27 May 2022

Headlines Wholesale gas and power prices were relatively mixed throughout the week, with gains across day-ahead markets and further out on the forward curve too. However, front month contracts across gas and power recorded losses, somewhat indicative of the on-going wholesale price volatility in recent weeks. Day-ahead gas rose 18.4% to 116.00p/th, buoyed by an […]

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20 May 2022

Headlines The majority of gas and power contracts decreased this week. The day-ahead contracts were an exception with day-ahead gas jumping 96.0% to 98.00p/th. Day-ahead gas was supported early in the week by lower levels of LNG send-out and restricted Norwegian supply as a result of maintenance. Month-ahead gas lifted 2.3% to 158.55p/th while the […]

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13 May 2022

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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06 May 2022

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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29 April 2022

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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22 April 2022

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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8 April 2022

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 premiums being baked into longer-dated contracts as global wholesale energy supply disruption concerns continue in the wake of the war […]

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1 April 2022

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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25 March 2022

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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21 March 2022

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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14 March 2022

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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