News

Wholesale energy prices were volatile throughout January 2018 but ultimately finished down 5% across the month. The UK system was well supplied throughout the period which helped alleviate price pressures, despite several events which ordinarily would have pushed prices upwards.

Business gas prices

Early in January, a sizable earthquake hit the Dutch gas producing region of Groningen, halting a good deal of gas production in the country. But the overall supply position of the UK and EU kept prices under control, with prices per therm dropping significantly across the month – down around 5% from the start of the month.

Business electricity prices

Strong winds throughout January kept renewable power generation high, reducing demand on gas-generated power and reducing upward price pressure. Exchange rates have also gone in favour of British businesses, who can purchase wholesale energy more cheaply thanks to a stronger pound. Trading largely on market fundamentals, supply and demand have stayed balanced and brought prices down.

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