This morning, the Electric wholesale (Day Ahead) prices have opened up 25.42% higher than this time last week with Gas (Day Ahead) increasing by 2.38%
Winter hurts, yet the near term markets are once more downtrending. The recent drop in temperatures is being offset, if not even outweighed, by the fundamentally brighter prognosis.
However, market movements vary depending on the situation. Front month Jan. 23 has decreased for the last few days to 330p/therm/£487MWh, but prices for 2024 are rising as market backwardation declines.
The restart of four nuclear reactors in France has been welcomed by the markets, but there are still 16 more to go. Five more are expected to be returned before the year is out, which will help with the Q1 timeframe.
The UK is expected to have another another extremely chilly week, with the cold snap sticking around longer than expected.
It won't be until December 19th that temperatures are expected to return to normal for the season. Due to the cold weather today and the fact that it is Monday, a Triad phase is indicated as having a high probability.
How the market has opened each day:
DAY AHEAD PRICES | Gas (pence per therm) | Electric (£ per MWh) |
05/12/2022 | 336.00 | 328.50 |
06/12/2022 | 344.00 | 318.50 |
07/11/2022 | 377.00 | 362.00 |
08/12/2022 | 344.00 | 394.00 |
09/12/2022 | 350.00 | 685.35 |
12/12/2022 | 344.00 | 412.00 |
7 day averages
Electric (£ per MWh) 412.23
Gas (pence per therm) 349.17
The below shows how the market compares to the previous week, month and year.
When will you look at your next renewals? Get your free quote today.
Get in touch to see what is available for your next renewals. 0151 459 3388
Commentaires