Half way through 2019, wholesale power and gas contracts have tumbled, with day-ahead NBP gas falling to a two year low, down 58% in six months.
In this Chart of the Week, we explore some of these highlights from the first half of the year and see why prices across the wholesale power and gas market are bottoming out.
Alex Mcgregor
Home supply and services
Due to the current energy crisis, consumer energy bills have been exposed to substantial increases over the past year. The recent rise in wholesale prices has had knock-on effects in many non-commodity costs within consumer bills, some of which will be baked into charges for several years to come In...
Energy storage and flexibility
Recent market events have continued to highlight the challenges of the energy trilemma, specifically the need to decarbonise the energy system while ensuring energy security and affordability. The government announced in April 2022 it would be undertaking a Review of Electricity Market Arrangements (REMA) to address these issues, and in...
Commercial and market outlook
The Administered Price Cap (APC) was triggered for the first state on 12 June at 6:55 am as a result of QLD breaching the Cumulative Price Threshold (CPT) of $1,359,100 for the rolling 7-day period. This caused the withdrawal of capacities by gas generators that could not recover fuel costs...
Home supply and services
The new energy price cap will come into effect from April, hitting a record high level which will see domestic consumers paying over 50% more per year in their energy bills. Although much of this increase is driven by rising wholesale prices, Third Party Charges (TPCs), reflecting non-commodity energy costs,...
Home supply and services
In response to the unprecedented increases in global gas prices, Ofgem announced last week time limited measures “to help stabilise” the supply market. This includes a requirement for all domestic suppliers to offer existing customers the same tariffs available to new customers from 14 April, echoing changes made by the...
Home supply and services
The domestic supplier market is facing a turbulent time with high wholesale prices causing distress and a series of supplier exits in the energy sector. This week's 'Chart of the week' examines these suppliers exits and their effect on the domestic market.
Home supply and services
Over the past few weeks, the energy market has been under the microscope as high wholesale prices and a wave of suppliers exiting the market has hit the headlines. Amid challenging wholesale market conditions for suppliers, they are now also facing the compliance deadlines for 2020-21 of the Renewables Obligation...
Home supply and services
With day-ahead gas reaching an all-time high of 187.50p/th as of 15 September, it has been a record-breaking summer for wholesale energy prices. This Chart of the Week explores the impact these high prices are having on domestic tariffs and consumer switching behaviour.
