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Increasingly volatile gas prices hit new all-time high

Wholesale gas prices briefly skyrocketed to a new all-time high of 800 pence per therm (p/th) on Monday morning (7 March) as concerns over the possible imposition of sanctions on gas flows between Russia and Europe led to a drop in trading volumes and increased volatility. Speaking to Utility Week shortly before 4pm, ICIS gas and LNG analyst Alex Froley said the front-month National Balancing Point price had subsequently dropped back down 570p/th but remained above the previous week’s record-high close of 463p/th.

3 years ago

Sanctions on Russia bring fresh spike in gas prices

3 years ago

Europe cannot rely on LNG imports to replace Russian gas

3 years ago

Contingency arrangements approved for gas shipper exits

3 years ago

Ukraine crisis could see price cap exceed £3,000 in October

3 years ago

Germany puts Nord Stream 2 gas pipeline on hold

3 years ago

Access to CfDs should be conditional on cost reductions

3 years ago

Wholesale energy market needs ‘wholesale reform’

3 years ago

Penrose: Competition can take the politics out of energy

3 years ago

Generation Outlook: The battery boom

3 years ago

Reduced flows from Russia see gas prices surge to new highs

Gas prices surged to new record highs earlier this week following reduced flows from Russia into Europe but have since eased off slightly after LNG shipments were diverted away from Asia. ICIS said front month contracts for January on the National Balancing Point gas market closed at 450 pence per therm on Tuesday (21 December), extending the previous sessions’ all-time high by another 80 pence.

3 years ago