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UK gas and power jumped to new highs on Wednesday on Norwegian outages, colder weather and LNG worries. Early trading this morning has taken most of it back.
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Week in UK energy, 21 to 27 Oct: winter gas up about 13%, November power up more than 15%, and Britain starts drawing on its gas storage.
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UK gas paused on Tuesday after four days of gains, but low wind sent next-day power up around £65/MWh and November power to a new high.
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UK gas rose a fourth day on Monday to new highs. Winter power is up around 12% in a week, and low wind from Thursday is lifting next-day prices.
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UK gas rose a third day on Friday and winter power followed it to record highs. Both finished the week around 7% up.
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UK gas rose again on Thursday. This winter and next year both closed at the highest levels in our records, as Norway, LNG and colder weather tightened supply.
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UK gas won back most of Tuesday's fall, and next year's gas closed at the highest level in our records. A Norwegian outage cut supply into Britain.
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Weekly UK energy report: this winter's gas eased about 3% in the week to 20 October, but next year's prices still finished higher.
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UK gas and power fell across the board on Tuesday, ending a 14-day run of rises for next summer's gas. Most of the fall was back by this morning.
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UK Summer-27 gas has risen 14 trading days in a row, up more than 38p a therm since 29 September. That is roughly £6,500 a year more on 500,000 kWh for contracts starting next April.
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UK Summer-27 gas rose every day last week, up almost 14p a therm to 164.30p. That is roughly £2,400 a year more on 500,000 kWh for contracts starting next April.
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UK winter gas eased for a second day, but 2027 kept rising. Summer-27 gas passed 160p a therm, about 13p up on the week, roughly £2,200 a year on 500,000 kWh.
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No MOP on a half-hourly meter? Your supplier appoints one at its price: £540 a year in one case, against about £160 for a direct contract. How to fix it:
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UK winter gas paused after six days of rises, but 2027 prices kept climbing. Summer-27 gas is about 14p a therm dearer than a week ago, roughly £2,400 a year on 500,000 kWh.
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Paying for capacity you never use? One site had 300 kVA agreed and a peak under 50 kW. Cutting to 80 kVA saves about £6,000 a year. Our step-by-step guide:
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UK winter gas rose on all five trading days last week to finish 15% higher, with forward power up about 14%. Our weekly round-up:
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UK winter gas has risen six days in a row and is 15% dearer than a week ago, with power up almost 15%. For a business using 500,000 kWh of gas, that is roughly £4,800 a year.
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UK winter gas has risen five days in a row and is around 14% dearer than a week ago, with power up almost 13%. For a business using 500,000 kWh of gas, that is roughly £4,500 a year.
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UK winter gas closed the week above 200p a therm, but the bigger move was next summer: up almost 10% on the week and close to 15% on the month. April 2027 renewals are already dearer.
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Wind nearly halved UK next-day power yesterday, but winter gas rose for a third day and January passed 200p a therm. A cheap spot price says little about what a fixed contract will cost.
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