Electricity and Gas Price Trends – 13th December 2024 to 18th December 2024


Ingrid & Anders
Please find detailed below the latest weekly update on the wholesale electricity and gas relative in the UK.

WHAT HAPPENED TO PRICES LAST WEEK ?
ELECTRICITY WHOLESALE PRICE CHANGES (£/MWh)
TERM
1 Year
13/12/2024
81.60
18/12/2024
80.51
MOVEMENT
-1.35%
TERM
2 Year
13/12/2024
77.37
18/12/2024
76.59
MOVEMENT
-1.02%

TERM
3 Year

13/12/2024
74.46

18/12/2024
73.82

MOVEMENT
-0.87%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

13/12/2024
102.163

18/12/2024
100.961

MOVEMENT
-1.19%

TERM
2 Year

13/12/2024
95.578

18/12/2024
95.074

MOVEMENT
-0.53%

TERM
3 Year

13/12/2024
87.931

18/12/2024
88.395

MOVEMENT
+0.52%
SUMMARY

Although we saw drops in prices in the early part of the week, uncertainty of continued Russian gas flows into Europe and an undersupplied British system pressured wholesale prices in the later part of the week.

Prices across the curve saw upside with those at the front-end posting the largest gains of the Friday mornings session with the January-25 contract gaining over 6p/therm (0.21p/kWh) when compared to Thursdays closing price.

The end of the Russia-Ukraine gas transit arrangement continued to be a key focus point for European energy prices. Despite comments made by officials from Slovakia, there appears to still be much uncertainty and speculation surrounding the deals deadline (which is set to end 1st January), fuelling supply concerns throughout European trading hubs.

A short British system also didn’t help matters in the second part of the week, with data from National Gas showing that the system was under supplied by 12mcm/d at 15:00 Thursday, which likely meant an increase to prompt prices.

In other news, Donald Trump has floated the possibility of imposing tariffs on the EU if they do not increase their purchase of US oil and gas. The announcement on his social media platform (Truth Social) comes amid the President-Elect’s focus on nations which have a trade deficit with the US.

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 18/12/2023 to 18/12/2024

Overall the average price of Electricity has gone down by 7.13%
Overall the average price of Gas has gone up by 3.65%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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