Gas prices up amid curtailed Norwegian output

Gas prices were forced up on Tuesday amid amid curtailed Norwegian output and despite tumbling gas demand.

Late afternoon trade witnessed the Winter 24 front-season contract edge above the 100p/therm (3.41p/kWh) as market participants braced for any prolonged disruptions to supply.

Data from offshore operator Gassco shows that 176.91mcm was taken offline across the gas-day coinciding with a sharp 49% drop in Langeled (Norway to UK) pipeline flows.

At the same time, luckily, unseasonably low demand likely helped to keep a lid on prices. National Gas data shows that total demand fell to 159.7mcm on Tuesday, down almost 6% day-on-day and 61.8mcm below the seasonal norm of 221.5mcm.

NBP Gas prices regrettably remain elevated above 100p/therm this morning, although most contracts have seemingly pulled back from an earlier attempt to push higher

The UK is currently consuming 28.82 GW’s of electricity (10:00 – 10:30).

The UK’s onshore and offshore wind turbines are currently generating 6.47 GW’s (20.85%) of the UK’s total electricity with solar generation at 1.35 GW’s (4.34%), Nuclear at 4.69 GW’s (15.13%) and gas for power generating 9.31 GW’s (30.00%) 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