Electricity and Gas Price Trends – 6th August 2024 to 13th September 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
06/09/2024
81.38
13/09/2024
78.93
MOVEMENT
-3.10%
TERM
2 Year
06/09/2024
79.44
13/09/2024
77.16
MOVEMENT
-2.95%

TERM
3 Year

06/09/2024
76.50

13/09/2024
74.64

MOVEMENT
-2.49%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

06/09/2024
100.087

13/09/2024
92.698

MOVEMENT
-7.97%

TERM
2 Year

06/09/2024
97.267

13/09/2024
90.261

MOVEMENT
-7.76%

TERM
3 Year

06/09/2024
93.367

13/09/2024
86.877

MOVEMENT
-7.47%
SUMMARY

Prices eased again this week on the back of easing supply risks and weaker carbon and coal markets.

Several LNG export facilities across the US Gulf Coast were ramping back up on Thursday after Hurricane Francine ripped through the area across Tuesday and Wednesday, leaving minimal damage to oil and gas infrastructure in its wake. This in turn removed an element of risk from European gas prices, due to the region’s heavy reliance on LNG imports, particularly those from the United States.

Prices also decreased across the wider energy with data from ICE the Carbon (EUA) and Rotterdam Coal benchmark contracts showing losses of circa 1.4% and 1.8% respectively in the later part of the week.

At the same time, data from Norwegian operator Gassco shows that scheduled maintenance at the UK’s Easington terminal is set to conclude early on Monday morning, allowing for the resumption of flows via the Norway-UK Langeled pipeline, thus bolstering British supplies.

On the storage front, facilities across the EU are currently 93.24% full, which is around 6 percentage points higher than the 5 year moving average (data from Gas Infrastructure Europe).

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 13/09/2024

Overall the average price of Electricity has down by 109.61%
Overall the average price of Gas has gone down by 79.70%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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