Electricity and Gas Price Trends – 12th April 2024 to 19th April 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
12/04/2024
74.650
19/04/2024
78.780
MOVEMENT
+5.24%
TERM
2 Year
12/04/2024
76.400
19/04/2024
79.210
MOVEMENT
+3.55%

TERM
3 Year

12/04/2024
74.860

19/04/2024
76.840

MOVEMENT
+2.58%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

12/04/2024
83.369

19/04/2024
89.751

MOVEMENT
+7.11%

TERM
2 Year

12/04/2024
86.704

19/04/2024
90.499

MOVEMENT
+4.19%

TERM
3 Year

12/04/2024
82.597

19/04/2024
84.942

MOVEMENT
+2.76%
SUMMARY

Ongoing geopolitical tensions between Israel and Iran meant another turbulent week on the wholesale market.

With Israel taking retaliatory action today (Friday) in response to Iran launching a massive missile barrage on Saturday the level of intensity has had a significant impact on the markets.

This was coupled with news of upward revisions being made to demand forecasts. According to the latest run of our 14-day demand model, British demand will average firmly above seasonal norms until at least 30th April.

It’s been windy this past week which has likely helped put a cap on further increases, but with high pressure moving in for the next 2 weeks, it will be far less windy and we will start to rely more on gas for our power. Which in turn could lead to further price increases next week as storage levels are depleted.

As a positive, the conclusion of unplanned maintenance at Norway’s Nyhamna gas processing facility will help provide a little confidence and help with the upcoming forecast spike in gas demand.

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 19/04/2024

Overall the average price of Electricity has down by 105.95%
Overall the average price of Gas has gone down by 82.85%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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