Every week since the start of June, Thursday and Friday has seen a significant sell-off for front month gas. The drop at the end of the trading week has been -19%, -27%, -19%, -12%, -31%, and -28% from 9th– 10th June to 14th–15th July respectively. #EnergyMarkets

The government is consulting on the Hydro Benefit Replacement scheme (commonly known as the ‘Hydro Levy’) and its accompanying Common Tariff Obligation. The consultation closes on 23 September 2022.

Gas markets have subsided from last week’s high, but the Winter 22 NBP contract is not looking likely to trend much lower in the weeks ahead while such uncertainty remains. Winter gas is 13% lower and was last seen trading at around 460p/th. #EnergyMarkets

Ofgem has conceded urgency for CMP395 and approved the timescale proposed by the CUSC (connection and use of system code) Panel. #EnergyMarkets

Thursday’s high on September gas of 620p/th represents a 40% increase in one week, and a 200% rise in a month. Similarly, UK baseload power for September rose 32% in a week and 190% in a month to £540/MWh. #EnergyMarkets

The average non-locational banded demand tariff is now forecast to increase to £97.69/site/annum, according to National Grid’s latest TNUoS update compared to its initial April tariff of £92.05/kW.

Gas and power markets across Europe peaked last week and the drop since then has been unprecedented across all contracts. Continental power, where the super-spike was felt the hardest during August, has seen a 50% collapse in some prices. #EnergyMarkets

There is never a quiet moment in the energy markets, certainly not in 2022. As the UK and EU reveal more detail on state-support packages for households and businesses, weaker fundamentals were starting to bring some comfort to the market. #EnergyMarkets

The Q1 23 Contracts for Difference Interim Levy Rate (ILR) has been set to £0.000/MWh by the scheme’s administrator, the Low Carbon Contracts Company (LCCC) #EnergyMarkets

Day Ahead gas, the barometer of true, real-time fundamentals, is very soft. And prices may have further to fall, which could put downward pressure on the balance of winter and Summer 23 in the weeks ahead. #EnergyMarkets

So far this year, UK gas demand has been below normal. LDZ (Local Distribution Zone) usage for heating and cooking is, on average, 15% below last year. October so far has seen demand 20% below normal. #EnergyMarkets

Half-hourly BSUoS charges will be capped at £40/MWh this winter in a bid to protect consumers from excess costs. Costs priced above this level would be deferred to the 2023/24 charging year following approval of the scheme by Ofgem, the energy regulator. #EnergyMarkets

Energy regulator Ofgem has approved the reform of gas Demand-side response methodology after National grid gas (NGG) requests to give urgent status to the matter ahead of this winter. #EnergyMarkets

This week, good weather and record-high LNG imports has kept energy supply well above demand, leading to unusually low Day Ahead prices and supply bottlenecks. #EnergyMarkets

The first month of the “worst winter on record” has not fulfilled its hype. The fear and panic over black-outs and gas shortages has subsided, certainly in the near-term, but has the story changed for the balance of winter? The short answer is ‘yes’. #EnergyMarkets

Energy regulator Ofgem confirmed this week that a ‘relevant shortfall' has been reached in the Renewables Obligation (RO) buy-out fund, triggering the mutualisation process after a number of suppliers failed to discharge their obligations in full. #EnergyMarkets

The government has confirmed that the new, temporary Electricity Generator Levy (EGL) will not apply to electricity generated under a Contracts for Difference (CfD). #EnergyMarkets

The average non-locational banded demand tariff is now forecast to decrease to £92.75/site/annum, according to National Grid’s draft TNUoS tariffs compared to the August update of £97.69/kW. #EnergyMarkets

Renewables Obligation mutualisation costs have fallen to £119.7 million for the 2021/22 obligation period after rising to a record high of £218.3 million the year before according to data released by energy regulator Ofgem. #EnergyMarkets

The Q2 23 Contracts for Difference Interim Levy Rate (ILR) has been set to £0.000/MWh by the scheme’s administrator, the Low Carbon Contracts Company (LCCC) #EnergyMarkets