Gas market remained relatively stable in comparison to last week with a slight decrease in wholesale costs despite the Electric market increasing daily from 04/01/2022.
Gas: NBP gas contracts lifted on Thursday, as bad weather delayed the arrival of LNG ships into Milford Haven and Russian flows into Europe remained restricted putting further pressure on European storage levels. This morning NBP gas contracts have opened lower as UK supplies remain strong following healthy LNG flow rates, however Russian gas flows into Europe continues to remain restricted.
Power: Most UK power contracts gained value on Thursday, supported by gains within the NBP gas market, however shorter dated contracts moved lower as wind generation increased. This morning shorter dated contracts have weakened as wind generation remains strong and trading within the NBP gas market, however some upside has been dealt to longer dated contracts has trading within the carbon markets firms.
Today, the Electric wholesale prices have opened up 29.71% HIGHER than this time last week with Gas DECREASING by 1.84%
How the market has opened each day:
Date Electric (£/MWh) Gas (p/therm)
04/01/2022 172.00 212.00
05/01/2022 198.00 230.00
06/01/2022 208.00 233.50
07/01/2022 210.10 199.10
10/01/2022 223.10 208.10
7 day averages
Electric (£ per MWh) 202.24
Gas (pence per therm) 216.54
The below shows how the market compares to the previous week, month and year.
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