Weekly Energy Market Update: 17th - 21st March 2025

Thomas McGlynn • 24 March 2025

Stay up-to-date on the latest wholesale gas, power, and oil price movements. Here’s a concise overview of what happened this week, why it matters, and how it could affect your next energy contract.

weekly-energy-market-recap-17-21-march-2025

✨ Quick Snapshot


  • 🔥 Average Gas: 103.43 p/therm (Up 0.9% vs. last week)


  • Average Electric: £90.30/MWh (Down 7.2% vs. last week)


  • 🛢️ Brent Oil: Closed near $72/bbl, supported by new Iran sanctions and ongoing Middle East tensions.

⚡ Market Overview


  • Partial Ceasefire in Ukraine: The proposed 30-day pause in energy infrastructure attacks was only partly observed, leading to a mid-week uptick in gas prices.


  • Weather & Supply: Above-average temperatures and solid LNG deliveries helped offset any major price surges, especially in power.


  • Volatile Electric Pricing: Electricity dipped sharply on 21/03, skewing the weekly average lower than typical market sentiment.

📊 Weekly Prices at a Glance

Gas (Day-Ahead) Power (Day-Ahead)
Highest 106.50 p/therm (20/03) £99.17/MWh (19/03)
Lowest 100.00 p/therm (19/03) £63.57/MWh (21/03)
Weekly Average 103.43 p/therm £90.30/MWh
Change vs Last Week +0.94% -7.2%
Note: An unusually low electricity price on 21/03 pulled the weekly average down more than expected.

🔎 Key Drivers This Week


  • Ceasefire Uncertainty
  • Markets reacted daily to headlines out of Ukraine; partial ceasefire compliance caused a mid-week surge in gas.


  • Stable Supply & Mild Weather
  • Above-seasonal temperatures and robust Norwegian gas flows tempered the market.
  • Power demand softened, reflecting reduced heating needs.


  • Oil Market Influences
  • Renewed US sanctions on Iran and tension near the Red Sea kept Brent crude supported, indirectly impacting gas/power sentiment.

What Does This Mean for Your Business?


Contracts Ending Soon (0–3 Months)


  • Watch for Dips: Sudden drops in power (like on 21/03) can offer favourable locking-in rates.
  • If you need budget certainty now, fixing your price on a dip may be beneficial.


Medium-Term (3–6 Months)


  • Keep an Eye on Geopolitics: Any escalation could quickly lift prices.
  • If the partial ceasefire stabilises further, there may be additional downward room.


Longer-Term (6+ Months)


  • Set Target Triggers: You have time to wait, but remain vigilant. Market sentiment can swing on unpredictable events.



⚠️ If you’re out of contract → Acting quickly could save your business money. Standard variable rates are still much higher than fixed rates.

🛢️ Oil Market Roundup


Brent Crude hovered around $70–$72/bbl, ending closer to $72.


Key Factors: US sanctions on Iran, OPEC+ production cuts, and renewed tensions in the Middle East.



Business Impact: While oil prices don’t directly affect most fixed-price electricity/gas contracts, they influence global energy sentiment and logistics costs.

12-Month Energy Market Trends


  • Easing from Winter Peaks: Gas and power are lower than the highs seen during colder months.



  • Volatile Outlook: Ongoing conflict in Ukraine and Middle East tensions could trigger sudden price moves.


📊 (See the 12-month market graph below for a full breakdown of movements.)

A graph showing a wholesale market report for the last 12 months

🔭 Next Steps

Ready to Lock in Better Rates or Stay Ahead of the Market?

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Final Thoughts


While the winter season is winding down, political uncertainty remains a key driver of energy prices. If your contract is up soon, consider securing a portion of your volume on any dips. For those with more time, monitor developments and set clear price triggers.



📧 Get in touch today to explore your options and ensure your business is on the best possible energy contract.

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