Electricity and Gas Price Trends – 28th July 2023 to 4th 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
28/07/2023
109.96
04/08/2023
107.28
MOVEMENT
-2.50%
TERM
2 Year
28/07/2023
113.41
04/08/2023
110.23
MOVEMENT
-2.88%

TERM
3 Year

28/07/2023
109.27

04/08/2023
106.61

MOVEMENT
-2.50%
GAS WHOLESALE PRICE CHANGES (£/MWh)

TERM
1 Year

28/07/2023
116.259

04/08/2023
113.665

MOVEMENT
-2.28%

TERM
2 Year

28/07/2023
124.189

04/08/2023
120.837

MOVEMENT
-2.77%

TERM
3 Year

28/07/2023
120.962

04/08/2023
117.598

MOVEMENT
-2.86%
SUMMARY

Falls in the first part of the week were countered by rises in the market on Thursday and Friday.

Mixed movement was observed as good wind generation was offset by unplanned gas supply outages from Norway.

The result was a fairly static week overall with no real changes to retail pricing.

If you are still waiting it out to make a decision on your next contract, the question we all need to ask ourselves is what will help drive the market down at the moment? Unfortunately, there are more influencers to drive the price in the opposite direction currently and this will unfortunately be the case for the next 12 – 24 months.

With a period of relative price stability and electricity rates in the mid to late 20’s we would encourage you to consult with your EAL Account Manager for an update ASAP.

Wholesale Price Change 01/01/2022 to 04/08/2023

Overall the average price of Electricity has down by 49.21%
Overall the average price of Gas has gone down by37.72%
LATEST WHOLESALE ELECTRICITY PRICE MOVEMENT

Latest Electricity Wholesale Prices
LATEST WHOLESALE GAS PRICE MOVEMENT

Latest Wholesale Gas Prices

 

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