EDW Technology Logo
Phone us on:
+44 (0)8448 802 489

Energy Wholesale Market Review

Energy Wholesale Market Review Week Ending 24th February 2024

This week saw a continued bearish pricing trend, with all tracked wholesale gas and power contracts in GB registering week-on-week price losses. Ongoing milder weather and increased wind power generation have kept near-term prices lower this week, while longer-dated contracts have taken price direction from wider movements in international commodity markets. Day-ahead gas fell 4.6% to 56.90p/th, following strong LNG arrivals to GB terminals, in tandem with increased Norwegian gas flows. Similarly, day-ahead power fell 6.5% to £57.50/MWh, finding support from greater wind generation projections reducing the requirement on more expensive forms of power generation. Following wider movements in international commodity markets, March 24 gas was down 8.1% at 55.60p/th, and April 24 gas also decreased 8.1% to 55.25p/th. All seasonal gas contracts declined last week, down by 5.0% on average. Summer 24 and winter 24 gas dropped 8.9% and 5.8% respectively, to 56.50p/th and 71.60p/th. All seasonal power contracts also reported losses this week, down on average by 4.5%, as summer 24 power traded 6.5% lower at £54.00/MWh, while winter 24 fell 5.3% to £67.50/MWh.

Wholesale price snapshot – Friday-on-Friday

Energy Wholesale Market Review Week Ending 24th February 2024.

Written By Graham Paul

Graham Paul


EDW House
Radian Court
Milton Keynes
Tel: +44 (0)8448 802 489
Email: info@edwtech.com

Contact Us