Energy is cheaper than 2023

The price we pay for energy has been falling. And recent trading in the gas & power markets says there is further to go.

At the start of winter, gas was 128 p/therm. It’s now closer to 70. Almost half. And a chunk of that has happened in the last few weeks. Down another 15%.

We’re on the far side of winter now. Traders are obviously feeling more confident in the outlook. The fear that has been stalking the market - is there enough to go around? - is subsiding.

Gas is still at the heart of our energy system. That means it’ll feed through into cheaper electricity and gas tariffs soon. Cornwall Insight predicts that the price we pay will fall 14% in Spring.

There’s more to tell. Gas is already being traded for use in the years ahead. These forward markets give us a window into the future.
And the price looks to be stabilising after the wild spires of the last few years. It's settling into a band between 60 and 90 p/therm.

Thats cheaper than it has been. But still almost double what was typical a few years ago.

Welcome to the next normal.

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