Electricity and Gas Price Trends – 5th January 2024 to 12th January 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
05/01/2024
84.380
12/01/2024
71.590
MOVEMENT
-17.87%
TERM
2 Year
05/01/2024
85.170
12/01/2024
75.560
MOVEMENT
-12.72%

TERM
3 Year

05/01/2024
84.800

12/01/2024
76.780

MOVEMENT
-10.45%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

05/01/2024
86.025

12/01/2024
80.383

MOVEMENT
-7.02%

TERM
2 Year

05/01/2024
88.462

12/01/2024
83.741

MOVEMENT
-5.64%

TERM
3 Year

05/01/2024
87.001

12/01/2024
82.868

MOVEMENT
-4.99%
SUMMARY

Prices maintained a downward trend amid strong LNG send out, an uptick in wind generation and healthy European gas storage levels.

With two laden vessels arriving at British terminals on Wednesday, data from National Gas shows that LNG send-out has remained above 100mcm/day for the second consecutive week, as the latest shipping signals indicate that up to six laden vessels could arrive at UK ports within the next nine days.

Well-stocked continental storage was also a prime source of help against the current cold snap, easing winter supply concerns.

The latest data from Gas Infrastructure Europe shows European storage is over 83% full despite the pressure of increased heating related demand witnessed over the last few days.

Additional help also came from an increase in wind-generated power in the first part of the week which help reduce the reliance on CCGT (combined cycle gas turbine) offtake.

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 12/01/2024

Overall the average price of Electricity has down by 115.97%
Overall the average price of Gas has gone down by 96.320%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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