Gas prices down amid improved demand forecast

Gas prices retreated on Friday amid improved demand forecasts and tumbling coal and carbon prices.

The upward momentum observed over the prior two sessions was brought to an abrupt end, with the May 24 front-month contract shedding a substantial 0.1p/kWh when compared to its previous close.

Upward revisions to temperature forecasts across weeks 18 and 19 likely served as a key source of help; the latest run of our 14-day model shows that demand will average comfortably below seasonal norms across the next 2-week outlook, helping to keep a lid on heating-related demand.

Weakening carbon and coal prices also likely helped; according to data from ICE, the Rotterdam Coal and Carbon EUA benchmark contracts saw day-on-day losses of 4% and 2.1% respectively.

NBP contracts continue to venture south this morning, with the Winter 24 front-season contract currently being offered circa 0.09p/kWh below its previous settlement at time of writing.

The UK is currently consuming 32.49 GW’s of electricity (10:00 – 10:30).

The wind has picked up a lot today and is currently generating 13.60 GW’s (38.95%) of the UK’s total electricity with gas for power only having to generate 2.03 GW’s (5.82%) of the total.

If you want to see more information on the wholesale market trends subscribe to our weekly report here.

Back to the Latest News

Our Supplier Panel

The Energy Advice Line is the UK's leading online price comparison and switching service dedicated to small and medium sized businesses in the UK.

Our online quotation engine has been designed to facilitate speedy but accurate commercial electricity and gas prices – all at the click of a button to allow you to search the market for the lowest prices from an extensive panel of suppliers and contract options.

Customers Love Us !

Say 'No' to cold calling on business energy

Unfortunately, business electricity and business gas customers in the UK are bombarded with unsolicited cold calls on a daily basis.

This unscrupulous approach does not offer the business energy customer an impartial view on the market and the price offered is more often 20-30% above the current retail price for electricity or gas.

At Energy Advice Line we strongly advise customers to not accept these offers and follow our simple steps to ensure that they are not locked into an uncompetitive contract.

Join our cold calling campaign here, and spread the word to say 'no' to cold calling on business energy!

Say No To Cold Calling on Business Energy