Electricity and Gas Price Trends – 21st July 2023 to 28th July 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
21/07/2023

112.36

28/07/2023

109.96

MOVEMENT
-2.18%
TERM
2 Year
21/07/2023
115.47
28/07/2023
113.41
MOVEMENT
-1.82%

TERM
3 Year

21/07/2023

111.54

28/07/2023

109.27

MOVEMENT
-2.08%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

21/07/2023

119.95

28/07/2023
116.259

MOVEMENT
-3.17%

TERM
2 Year

21/07/2023
126.496

28/07/2023

124.189

MOVEMENT
-1.86%

TERM
3 Year

21/07/2023

122.415

28/07/2023

120.962

MOVEMENT
-1.20%
SUMMARY
An uptick in wind generation and increased gas flows from Norway meant that we had a stable week on the wholesale market.

Data posted by National Grid showed wind output outpacing seasonal norms and subsequently reducing gas-for-power demand.

This has resulted in a stable week of retail pricing with average electricity prices in the mid to late 20’s depending on contract duration and meter location in the UK.

With 12 and 24 month contract pricing remaining very close, it might be a good time to lock in for further and protect your business from future rises.

If you need any further information or advice on what other customers are doing at the moment please contact us now.

Wholesale Price Change 01/01/2022 to 28/07/2023

Overall the average price of Electricity has down by 45.39%
Overall the average price of Gas has gone down by 34.17%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT
Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT
Latest Wholesale Gas Prices

 

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