Electricity and Gas Price Trends – 12th January 2024 to 19th January 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
12/01/2024
71.590
19/01/2024
63.840
MOVEMENT
-12.14%
TERM
2 Year
12/01/2024
75.560
19/01/2024
68.980
MOVEMENT
-9.54%

TERM
3 Year

12/01/2024
76.780

19/01/2024
70.860

MOVEMENT
-8.35%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

12/01/2024
80.383

19/01/2024
74.194

MOVEMENT
-8.34%

TERM
2 Year

12/01/2024
83.741

19/01/2024
78.178

MOVEMENT
-7.12%

TERM
3 Year

12/01/2024
82.868

19/01/2024
78.081

MOVEMENT
-6.13%
SUMMARY

Prices were down again this week amid strong LNG send out, consistent gas supply from Norway and healthy European gas storage levels.

Prices broke through a key psychological barrier on Wednesday amid strong supply fundamentals with summer-24 front-season contracts trading below 2.4p/kWh for the first time since January 2022.

The drop in prices could be attributed to robust supplies in the face of sub-freezing temperatures with strong Norwegian exports helping.

Further decreases likely came from an uptick in LNG supply, according to data from National Gas LNG send out flows have averaged at a rate of 106mcm/d since 8th January.

Furthermore, the latest shipping signals indicate that as many as 7 laden vessels could arrive at British terminals over the next 7 days.

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 19/01/2024

Overall the average price of Electricity has down by 137.45%
Overall the average price of Gas has gone down by 110.41%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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