Wholesale Market Review

Energy Wholesale Market Review – 30 June 2023

Headlines This week, we observed mixed price movements. Largely, all gas contracts recorded gains whilst baseload power contracts saw a varied outturn. Firstly, day-ahead gas rose 5.4% to 84.93p/th, following extensive maintenance at Norwegian gas production facilities across the North Sea – acting to tighten gas supply. However, further gains were limited by elevated temperatures […]

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Energy Wholesale Market Review – 23 June 2023

Headlines This week favoured a bearish outcome for gas and power prices in GB, both in the near-term and further along the forward curve – underpinned by strong EU gas storage levels easing uncertainty surrounding potential supply shocks this winter. Day-ahead gas fell 8.4% to 80.60p/th, following decreased gas-for-power demand as temperatures remain above-average – […]

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Energy Wholesale Market Review – 16 June 2023

Headlines All power and gas contracts reported gains this week. Day-ahead gas rose 27.8% to 88.00p/th, finding continued support from disruption to Norwegian flows as extensive maintenance continues. July 23 gas was up 31.5% at 88.00p/th, and August 23 gas increased 22.9% to 88.40p/th. Amid ongoing volatility, all seasonal gas contracts boosted last week, up […]

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Energy Wholesale Market Review – 9 June 2023

Headlines This week largely represented strong bullish sentiment for wholesale gas and power contracts in GB, with some exceptions from seasonal power prices. Weighed on by colder temperatures early in the week, prices saw mixed movements until gains consolidated later in the week. Day-ahead gas rose 20.8% to 68.85p/th, following continued outages of several large […]

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Energy Wholesale Market Review – 2 June 2023

Headlines This week largely represented more bearish sentiment for wholesale gas and power contracts in GB, with some exceptions from peak power prices. Subsequently, day-ahead gas fell 1.0% to 57.00p/th, weighed by elevated temperatures in the first half of the week – although price losses were capped by reduced flows following extensive work at Norwegian […]

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Energy Wholesale Market Review – 26 May 2023

Headlines This week power and gas contracts continued to follow the bearish trend seen across much of 2023 to date, inclusive of longer-term contracts. We observed above average temperatures for large periods across the reporting window – acting to supress gas and power demand. Subsequently, day-ahead gas fell 13.4% to 57.60p/th, following milder weather and […]

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Energy Wholesale Market Review – 19 May 2023

Headlines This week saw the continuation of lowering gas and power prices, extending upon bearish price movements observed in the previous week, including longer term contracts. We observed above average temperatures for large periods across the reporting window – acting to supress gas and power demand. As a result, day-ahead gas fell 14.6% to 67.50p/th […]

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Energy Wholesale Market Review – 12 May 2023

Headlines This week represented a mixed picture for wholesale gas and power contracts, especially when acknowledging the difference between shorter and longer termed contracts. On shorter-dated contracts, a mostly bearish sentiment was observed – whereas prices further out on the forward curve recorded gains, a potential response to fears surrounding future LNG supply as China […]

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Energy Wholesale Market Review – 21 April 2023

Headlines This week, wholesale gas and power contracts experienced mostly bearish trends – resulting from increased daily temperatures, coupled with greater wind power generation, when compared to last week. Day-ahead gas fell 0.5% to 99.5p/th amid strong LNG supplies, and decreased demand levels. Similarly, day-ahead power fell 2.3% to £104.5/MWh, following the bearish price movements […]

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Energy Wholesale Market Review – 17 April 2023

Headlines This week represented a relatively mixed picture for wholesale gas and power contracts. Primarily, we observed losses on shorter-dated contracts whereas prices further out on the forward curve recorded gains – a possible response to on-going concerns over future supply as a potential rebound in rival Asian markets disrupting LNG supplies – coupled with […]

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Energy Wholesale Market Review – 31 March 2023

Headlines It was a collectively bullish week across most tracked gas and power contracts this week. In support of this, day-ahead gas rose 10.3% to 112.50p/th, following higher gas demand ahead of expected colder temperatures and lower wind output at the beginning of next week. Day-ahead power, however, fell 5.3% to £111.75/MWh, despite the anticipated […]

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Energy Wholesale Market Review – 24 March 2023

Headlines This week, we continued to broadly observe the downturn of wholesale gas and power prices, with the day-ahead contracts being the primary outliers to this trend. Recent milder weather has helped to lower demand, allowing prices to soften. Added to this, the present gas storage level on the continent remains strong, with net injections […]

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