Electricity and Gas Price Trends – 17th January 2025 to 24th January 2025


Ingrid & Anders
Please find detailed below the latest weekly update on the wholesale electricity and gas relative in the UK.

WHAT HAPPENED TO PRICES LAST WEEK ?
ELECTRICITY WHOLESALE PRICE CHANGES (£/MWh)
TERM
1 Year
17/01/2025
89.65
24/01/2025
94.03
MOVEMENT
+4.66%
TERM
2 Year
17/01/2025
83.42
24/01/2025
86.02
MOVEMENT
+3.02%

TERM
3 Year

17/01/2025
78.47

24/01/2025
80.24

MOVEMENT
+2.21%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

17/01/2025
114.887

24/01/2025
119.898

MOVEMENT
+4.18%

TERM
2 Year

17/01/2025
106.976

24/01/2025
109.479

MOVEMENT
+2.29%

TERM
3 Year

17/01/2025
98.789

24/01/2025
100.690

MOVEMENT
+1.89%
SUMMARY

Market volatility persisted at the NBP for the majority of the week, with gains across the majority of curve pricing.

Summer 25 extended its premium over the Winter 25 contract, suggesting that supply concerns over the next few months were the foremost driver (data from ICE).

On the storage front, consistently high withdrawals continues to hammer European stocks. According to data from Gas Infrastructure Europe, EU facilities were 57.60% full as of 22nd January. This was 16.2% lower than the same time last year (73.78%) and slightly above the distinctly low post pandemic outbreak levels of 2021 (57.29%).

Similarly in the UK, storage levels are at just over 35% capacity, 59% lower than the same date last year.

Even with storm Éowyn battering UK shores over the weekend, this could limit wind generation as most turbines work best at wind speeds ranging from 7mph to 56mph and some models cannot operate properly in the presence of strong gusts and may need to be taken offline (Source- National Grid).

See previous editions of the weekly price trends update by clicking here.

We also have lots of useful news articles that will help you form a much more rounded view of the energy sector before you make a decision on your next energy contract.

Wholesale Price Change 24/01/2024 to 24/01/2025

Overall the average price of Electricity has gone UP by 22.34%
Overall the average price of Gas has gone UP by 30.89%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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