State of the Energy Market – 12th April 2022

Daily Updates

A reduction in the amount of Russian gas coming through the Ukrainian pipeline to Europe was observed on 12th April, meaning 21% down on the previous day, and concern over whether Russia had recently carried out a chemical attack in Ukraine, added to the bullish opening to the market. Gas prices have stayed higher within day, but power prices have gradually reduced and the last trades have been at very similar levels to the prices we saw for May 22.

Gas

Wholesale gas prices for May 22 fell on Monday, closing at 213.01 pence per therm, This was a 6.8% drop against Friday’s (8th April) closing price.

Electricity

Wholesale power prices for May 22 fell only slightly on Monday, 11th April closing at £192.78 per MWh, which was a 0.2% fall against Friday’s close.

In other energy related news:

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