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Writer's pictureTom McGlynn

17/01/2022 - Weekly Wholesale Market Update

Gas market remained relatively stable in comparison to last week with a slight increase in wholesale costs. Electric wholesale markets have declined from this time last week after an initial increase and today open up at under £200 per MWh


Gas: Shorter dated NBP gas contracts firmed on Thursday, following an unplanned outage at the Norwegian Troll field which reduced flows via Langeled, while longer dated contracts moved lower following the weaker trading within the carbon markets. This morning, NBP gas contracts have opened higher as supplies into the UK fall with Norwegian supply issues continuing.

Power: Most UK power contracts gained value on Thursday, supported by the gains within the NBP gas market and forecasts for reduced wind generation and colder temperatures. UK power contracts have opened higher following stronger trading within the carbon markets and gains within the NBP gas market.


Today, the Electric wholesale prices have opened up 11.70% Lower than this time last week with Gas Increasing by 0.45%



How the market has opened each day:


Date Electric (£/MWh) Gas (p/therm)

10/01/2022 223.10 202.10

11/01/2022 244.10 195.73

12/01/2022 194.60 180.10

13/01/2022 290.10 208.80

14/01/2022 203.00 208.10

17/01/2022 197.00 203.00


7 day averages


Electric (£ per MWh) 225.32

Gas (pence per therm) 199.64


The below shows how the market compares to the previous week, month and year.





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