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.
Increasingly volatile gas prices hit new all-time high
