This morning, the Electric wholesale (Day Ahead) prices have opened up 61.68% higher than this time last week with Gas (Day Ahead) 1.01% higher
Oil and Gas Markets
On Monday's opening, the price of oil slid to trade close to two-month lows as concerns about Chinese demand and a declining US currency continued to overshadow supply concerns. Fears of a recession remain high as new evidence from important economies indicated that one is imminent. As the US prepares for Thanksgiving, reduced trading activity and worse macroeconomic data are expected to cause the equity market to open somewhat range-bound. Market investors will closely monitor inflation data as they predict how central banks around the world will act in the last months of the year.
Gas & Power
As lower temperatures and withdrawals continue to balance out good storage, decreased demand, and robust LNG shipments, European wholesale gas prices began range-bound. France and Germany anticipate a slight increase in renewable production, which will give the week with much-needed assistance if wind output remains solid. Even though up to 45 vessels have arrived at European coasts, demand for LNG is still strong. As Monday begins, the Yamal Europe and Velke pipelines are stable, with somewhat higher flows than the previous week. NBP and TTF front month contracts were trading at 280 p/therm and 118.60 EUR/MWh, respectively, at the time of writing.
How the market has opened each day:
DAY AHEAD PRICES | Gas (pence per therm) | Electric (£ per MWh) |
14/11/2022 | 99.00 | 107.00 |
15/11/2022 | 107.00 | 125.00 |
16/11/2022 | 95.00 | 108.00 |
17/11/2022 | 108.00 | 113.00 |
18/11/2022 | 115.00 | 155.00 |
21/11/2022 | 100.00 | 173.00 |
7 day averages
Electric (£ per MWh) 130.17
Gas (pence per therm) 104.00
The below shows how the market compares to the previous week, month and year.
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