Decreases across both Gas and Electric wholesale markets this week. As the energy market was closed during the Christmas period, we are comparing the latest prices from 23/12/2021 to 04/01/2022.
Gas: Forecasts for increased LNG supplies into the UK, mild temperatures and lower demand pushed NBP gas contract prices lower on Friday. This morning NBP gas contract prices have strengthened as temperatures fall and Russian gas supplies into Europe fall.
Power: UK power contracts traded lower on Friday as increased wind generation and expectations of further LNG supplies into the UK pushed prices lower. UK power contracts have opened higher this morning as temperatures fall and trading within the NBP gas market strengthens.
Today, the Electric wholesale prices have opened up 44.43% LOWER than this time last week with Gas DECREASING by 34.59%
How the market has opened each day:
Date Electric (£/MWh) Gas (p/therm)
23/12/2021 309.50 318.00
24/12/2021 215.00 256.00
04/01/2022 172.00 208.00
7 day averages
Electric (£ per MWh) 232.17
Gas (pence per therm) 260.67
The below shows how the market compares to the previous week, month and year.
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