State of the Energy Market – 24th June 2022

Daily Updates

Prices have been falling yesterday (Thursday, 23 June) despite concerns around the Nord Stream 1 pipeline, which will be offline from July 11 to 21 for maintenance; this will probably reduce the rate of storage injections. With fierce rivalry on international markets to draw supply from a currently small LNG market, unexpected changes in Russian flows continue to be the biggest risk factor for markets right now. Germany has started stage two of its gas emergency preparations due to recent cutbacks in flows from Russia.

Gas

July 22 wholesale gas prices increased by 1.8% to close at 186.84 pence per therm.

Power

Wholesale power prices increased by 4.2% to close at £207 per MWh.

In other energy related news:

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