Electricity and Gas Price Trends – 15th September 2023 to 22nd September 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
15/09/2023
109.95
22/09/2023
108.08
MOVEMENT
-1.73%
TERM
2 Year
15/09/2023
110.60
22/09/2023
108.63
MOVEMENT
-1.81%

TERM
3 Year

15/09/2023
107.93

22/09/2023
105.31

MOVEMENT
-2.49%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

15/09/2023
123.76

22/09/2023
122.977

MOVEMENT
-0.64%

TERM
2 Year

15/09/2023
126.409

22/09/2023
124.439

MOVEMENT
-1.58%

TERM
3 Year

15/09/2023
122.538

22/09/2023
120.087

MOVEMENT
-2.04%
SUMMARY
Overall, wholesale electricity and gas prices went down slightly last week.

Although the market has been pretty steady, it has weathered a few blips due to Australian LNG depot strikes and extended outages from Norway.

Fortunately it has been windy which has really helped reduce the need for gas for power generation and the weather has been warm so this has created unseasonably low demand as well.

The threat of continued outages from Norway is the primary concern at the moment.

According to data from offshore operator Gassco, extensions to yearly maintenance at the Sleipner facility has been the latest in a flurry of unplanned delays to annual summertime works. The volume of offline capacity was revised upwards once again last Thursday.

In positive news, the Australian LNG facility operator has endorsed an agreement proposed by the Australian Fair Work Commission. If agreed by unions this will end the current industrial action which began last week.

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 22/09/2023

Overall the average price of Electricity has down by 50.19%
Overall the average price of Gas has gone down by 31.95%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT
Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT
Latest Wholesale Gas Prices

 

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