State of the Energy Market – 20th May 2022

Daily Updates

Friday, 20th May has been crunch day for whether the next batch of European companies would be paying Russia in roubles for gas. In what has turned out to be a welcomed anti-climax, a silent comprise of sorts has been reached between the European Commission and Russia, which has helped to settle the markets. We have seen falls of at least 8% in both gas and power rates for June 22, with prices further out also falling by smaller levels.

Gas

June 22 wholesale gas prices closed at 168.74 pence per therm on Thursday, which was a decrease of 7% against the previous day’s closing price.

Power

Wholesale power prices for June 22 closed at £167.28 per MWh, which was a decrease of 5% against the previous day’s close

In other energy related news:

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