Electricity and Gas Price Trends – 11th August 2023 to 18th August 2023


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
11/08/2023
113.28
18/08/2023
117.62
MOVEMENT
+3.69%
TERM
2 Year
11/08/2023
113.55
18/08/2023
117.43
MOVEMENT
+3.30%

TERM
3 Year

11/08/2023
108.900

18/08/2023
112.32

MOVEMENT
+3.04%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

11/08/2023
122.708

18/08/2023
122.535

MOVEMENT
-0.14%

TERM
2 Year

11/08/2023
126.159

18/08/2023
126.071

MOVEMENT
-0.07%

TERM
3 Year

11/08/2023
120.413

18/08/2023
120.356

MOVEMENT
-0.05%
SUMMARY
The potential for LNG production strikes in Australia and planned maintenance gas outages from Norway have created a very spikey week on the wholesale market.

Luckily a strong up tick in wind generation in the later part of the week softened the spikes and created what looked like a relatively stable week if we compare the data from just two date points.

However, this hides what could be a few issues going forward all of which will have a significant impact on pricing if we don’t get lucky with the wind.

Norwegian capacity restrictions are set to climb rapidly next week which will affect gas into the UK. However, we expect our first LNG shipment for almost 2 months into Milford next week which will help storage capacity.

There is more to go wrong than right! There are more influencers to drive the prices up currently. Please consult with your EAL Account Manager to check prices for your business ASAP.

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 18/08/2023

Overall the average price of Electricity has down by 39.23%
Overall the average price of Gas has gone down by 31.42%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT
Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT
Latest Wholesale Gas Prices

 

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