Electricity and Gas Price Trends – 19th April 2024 to 26th April 2024


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

WHAT HAPPENED TO PRICES LAST WEEK ?
ELECTRICITY WHOLESALE PRICE CHANGES (£/MWh)
TERM
1 Year
19/04/2024
78.780
26/04/2024
74.590
MOVEMENT
-5.62%
TERM
2 Year
19/04/2024
79.210
26/04/2024
75.800
MOVEMENT
-4.50%

TERM
3 Year

19/04/2024
76.840

26/04/2024
74.000

MOVEMENT
-3.84%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

19/04/2024
89.751

26/04/2024
84.410

MOVEMENT
-6.33%

TERM
2 Year

19/04/2024
90.499

26/04/2024
85.727

MOVEMENT
-5.57%

TERM
3 Year

19/04/2024
84.942

26/04/2024
80.901

MOVEMENT
-4.99%
SUMMARY

With tensions in the Middle East easing this past week, the wholesale market was a little calmer amid other pressures brought on with much colder temperatures hitting Europe.

With news of upward revisions being made to the latest 14 day demand forecasts, British demand will average firmly above seasonal norms until at least 30th April.

This was coupled with issues presented with constrained gas supply from UK pipelines from Norway. Data from offshore operator Gassco shows that Langeled pipeline flows continued to plummet in the later part of the week, with nominations falling an by 38% from Thursday to Friday amid a considerable 73.69mcm of planned maintenance. The issue was this coincided with below-average European temperatures which had a significant impact on gas for power demand.

On the weather front, the latest forecasts from the Met Office indicate that UK temperatures will remain on the cooler side for the rest of Week 17, with the 14-day demand model suggesting that demand could remain well-above seasonal norms until at least 30th April amid cooler weather forecasts coupled with subdued wind generation.

In other news, more pressure could be felt next week on the back of Feedgas flows into the Freeport LNG plant in Texas with reports that they have been halted once again as workers struggle to correct technical issues at the facility that are impacting exports to the European market.

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 01/01/2022 to 26/04/2024

Overall the average price of Electricity has down by 115.53%
Overall the average price of Gas has gone down by 93.16%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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