State of the Energy Market – 19th April 2022

Daily Updates

We have seen a drop in wholesale energy prices on Tuesday, 19th April which can be attributed in part to confidence about Russia’s willingness to modify its roubles demand. While near-term electricity prices continued to fall, gas prices began to firm up, most likely due to weaker wind output and forecasted cooler temperatures. In other news, despite a drop in EU and UK prices expanding the difference in favour of Asian markets, China’s ongoing lockdowns continue to alleviate cross-continent LNG competitiveness.

Gas

Wholesale gas prices for May 22 decreased on Thursday 14th April, closing at 177.25 pence per therm. This was a -16.81% fall against Wednesday’s closing price.

Electricity

Wholesale power prices for May 22 also decreased on Thursday, closing at 170.50 per MWh, which was a -11.89% fall against Wednesday’s close.

In other energy related news:

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