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Mini Energy Report 16th January 24

  • Gas and Electricity Wholesale prices are lower than last week.
  • EU Gas Storage levels are a high 79% full.
  • Global events may create further price volatility.

Gas and Electricity Wholesale costs are lower than last week.

After a period of falling prices, we saw a little volatility towards the end of last week due to the attacks by the UK and US on Houthi rebel targets within Yemen, in response to the threat to international shipping in the Red Sea. There were also revised forecasts of lower temperatures. Despite these pressures, the start of the week has once again seen prices fall.

EU Gas Storage levels are now 79% full, down from 84% last week, which is lower than 2023, but still a positive position and far higher than the 49% in 2022.........

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