Written by Director of Avails Energy, Rory Ingham on Friday 28th June, 2024
Day ahead electricity (Peak) prices are currently at 2.629p/KWh a drop of 23% on the day before largely due to high levels of wind and solar generation mixed with lower demand for air conditioning as the mini heatwave ended. Looking further out the rest of summer is trading at 7.379p/KWh (Base electricity) and 7.903p/KWh for peak electricity. Winter 2024 prices are trading at 8.782p/KWh (base) and 9.96p/KWh for Peak electricity. Over the last month electricity prices have fallen 3.3%.
In the gas market prices are also down on last month but only 1.5%, with day ahead prices currently at 2.7p/KWh, Q3 24 at 3.29p/KWh and Winter 24 at 3.36p/KWh. UK gas storage is currently at 43% capacity significantly behind the rest of Europe and with no LNG shipments scheduled to dock in the next month vs 19 shipments on the way to Western mainland Europe we are lagging behind as we head closer to winter, but the supply vs demand fundamentals are looking strong for the rest of Summer.
Over the next month we should see some small volatility with the general election and we are keeping an eye on tensions in the middle east and Iran’s new President’s view on the current conflicts- escalation remains the main significant threat to current price levels.
ZERO Standing Charge Tariff
A new tariff style is now available for Half Hourly (HH) and non-half hourly (nhh) electricity meters.
The only charges you will see on your bill are p/KWh, KVA, CCL and VAT. 12 and 24 month fully fixed terms are available for contracts starting in the next 6 months – we are able to quote within 30minutes and are seeing huge savings vs other standard tariffs.
Get in touch for quotes or anything else energy related; Email rory@avails.co.uk or call on 01274 060847
