This morning, the Electric wholesale (Day Ahead) prices have opened up 32.78% higher than this time last week with Gas (Day Ahead) increasing by 32.06%.
Gas and electricity contracts in the UK and Europe closed Friday's session with movement players profiting after a wildly unpredictable week. The markets managed to hold onto their gains in light of the fundamental change in flow dynamics and likely political hardening of the Russian attitude on sending gas to the West, but the aggressive nature of the sellback highlights the lack of liquidity and general unease in the market. Carbon prices have stayed constant since their highs, with opposing causes such as rising coal consumption, regulatory inaction, and the economic outlook delaying major changes. Nordstream 1 flows have remained around 20-25 percent of those reported just ten days ago during the weekend.
How the market has opened each day:
Date Electric (£/MWh) Gas (p/therm)
13/06/2022 162.00 143.95
14/06/2022 164.50 169.90
15/06/2022 190.00 225.00
16/06/2022 216.50 200.05
17/06/2022 185.00 159.00
20/06/2022 215.10 190.10
7 day averages
Electric (£ per MWh) 188.85
Gas (pence per therm) 181.33
The below shows how the market compares to the previous week, month and year.
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