Electricity and Gas Price Trends – 19th January 2024 to 26th 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
19/01/2024
63.840
26/01/2024
64.030
MOVEMENT
+0.30%
TERM
2 Year
19/01/2024
68.980
26/01/2024
69.170
MOVEMENT
+0.27%

TERM
3 Year

19/01/2024
70.860

26/01/2024
71.100

MOVEMENT
+0.34%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

19/01/2024
74.194

26/01/2024
74.278

MOVEMENT
+0.11%

TERM
2 Year

19/01/2024
78.178

26/01/2024
78.434

MOVEMENT
+0.33%

TERM
3 Year

19/01/2024
78.081

26/01/2024
78.115

MOVEMENT
+0.04%
SUMMARY

Prices were up marginally this past week amid delays to LNG shipments and a bullish carbon market.

Shipping signals in the week indicated that up to four laden vessels were delayed due to the strong winds hitting the UK. The vessels include the US Kunlun which was originally scheduled to berth at the South Hook No 2 terminal on Wednesday.

Below average gas demand driven by higher temperatures helped keep prices in check however. According to data from National Gas, actual demand remained below seasonal norms during the week.

It was also reported that unscheduled maintenance at the Barrow North terminal had been extended from January 25th to January 28th, perhaps limiting greater losses on near-dated contracts.

In other news, shipping signals indicate that the Port of Milford Haven is expecting its first Italian shipment of LNG since at least 2022, the FSRU (floating storage and regasification unit) vessel BW Lilac was scheduled to arrive at the South Hook LNG terminal on January 27th.

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 26/01/2024

Overall the average price of Electricity has down by 136.73%
Overall the average price of Gas has gone down by 110.07%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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