Wholesale Market Review

Energy Wholesale Market Review – 22 July 2024

Headlines Wholesale gas and power prices were relatively mixed throughout the week, with gains recorded across shorter-term contracts. Front-month contracts across gas and power moved higher, influenced by an outage across the Freeport LNG terminal, in tandem with the redirection of gas flows from Norway to France. This resulted in a 0.2% gain for day-ahead

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Energy Wholesale Market Review – 15 July 2024

Headlines It was a bearish week for gas and power contracts last week, opposing the trend of relative increases across wholesale prices observed across much of 2024 to date. Day-ahead gas fell 6.1% to 73.25p/th, influenced by reduced maintenance works across the UK Continental Shelf, bolstering flows into GB from our indigenous gas sources. Moreover,

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Energy Wholesale Market Review – 08 July 2024

Headlines Wholesale gas and power prices saw downward price movements predominantly throughout the week in GB, with European strong gas storage levels and increased Norwegian and UK Continental Shelf flows acting to soften supply margins, resulting in most power and gas contracts falling. Day-ahead gas fell 2.0% to 78.05p/th, as lower levels of Norwegian and

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Energy Wholesale Market Review – 01 July 2024

Headlines Last week largely represented a mixed period for wholesale gas and power contracts, with day-ahead power contracts decreasing in the week, opposing the movements seen in all longer-term contracts. Subsequently, day-ahead gas fell 0.5% to average 79.65p/th, weighed by elevated temperatures throughout the week acting to limit gas-for-heating demand. Similarly, day-ahead power dropped 3.4%

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Energy Wholesale Market Review – 24 June 2024

Headlines Last week largely represented a more bearish period for wholesale gas and power contracts in GB, with some exceptions arising across seasonal gas prices. Subsequently, day-ahead gas fell 4.8% to 80.05p/th, weighed by elevated temperatures acting to limit gas-for-heating demand in tandem with increased Norwegian flows bolstering gas supply into the UK. Similarly, day-ahead

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Energy Wholesale Market Review – 17 June 2024

Headlines All power and gas contract prices rose last week, amid bullish fundamentals of easing wind outturn coupled with reduced gas flows. Day-ahead gas increased 7.7% to 84.05p/th, following rising heating demand due to below average seasonal temperatures, paired with lower gas flows into GB amid ongoing outage maintenance at gas terminals on the Norwegian

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Energy Wholesale Market Review – 03 June 2024

Headlines Last week saw mixed movements across tracked power and gas contracts, with day-ahead gas rising 0.3% to 82.50p/th, following maintenance at gas fields and terminals across the Norwegian and UK continental shelves, in tandem with reduced temperatures across GB. Similarly, June 24 gas was up 0.7% at 82.60p/th, and July 24 gas increased 0.9%

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Energy Wholesale Market Review – 28 May 2024

Headlines All power and gas contracts rose last week, finding bullish influence from reductions across gas flows from the Norwegian and UK Continental Shelves, and increased competition for the procurement of LNG, as a heatwave across northeast Asia bolstered gas-for-power demand. As a result, day-ahead gas rose 10.8% week-on-week to 82.25p/th, reaching the highest level

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Energy Wholesale Market Review – 20 May 2024

Headlines Most tracked power and gas contracts rose last week, with day-ahead gas increasing 4.0% to 74.25p/th, following maintenance across the Barrow North and St Fergus NSNP gas terminals, impacting flows from the UK Continental Shelf. Likewise, day-ahead power prices on 17 May found support from higher UK gas-for-power demand projections for 20 May, in

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Energy Wholesale Market Review – 13 May 2024

Headlines Day-ahead gas rose 0.4% to 74.57p/th last week, following reduced Norwegian gas flows due to maintenance across various gas fields, however, stronger gains were limited by above-average temperatures acting to reduce gas demand. Opposing the movements seen across its gas counterpart, day-ahead power fell 16.2% to £61.16/MWh, finding bearish influence from stronger projections of

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Energy Wholesale Market Review – 7 May 2024

Headlines It was a collectively bullish week across most tracked gas and power contracts last week. In support of this, day-ahead gas rose 0.1% to 74.30p/th, following reduced wind output forecasts across the week ahead, acting to raise total domestic gas-for-power demand. However, stronger gains were limited by above-average temperatures, acting to reduce heating demand

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Energy Wholesale Market Review – 29 April 2024

Headlines Across the week ending 26 April, most tracked gas and power contracts registered losses, with the baseload June 24 contract experiencing the only gain last week. Day-ahead gas fell 3.6% to 74.25p/th, as prices were influenced by forecasts of above-average temperatures in the week ahead acting to reduce domestic heating demand. Moreover, rising wind

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