Wholesale gas prices hit mid-February high

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UK wholesale gas prices have hit their best stage since mid-February, with charges rising to nearly 135p per therm, prompting issues concerning the impact on house bills

UK wholesale gas prices have recently reached their best levels since mid-February, with prices peaking at nearly 135 pence per therm on a Friday afternoon.

That follows a previous rise to nearly 123p per therm early in the day in the week, observing a six-month large maybe not seen since early April.

The escalation in gas prices raises issues about their possible affect on house bills.

Electricity charges in the UK are strongly associated with wholesale gas prices, and that rise may lead to higher power bills for consumers.

Energy Analyst Jess Ralston from the Energy and Weather Intelligence System claimed: “This is a reminder that minus the shift to renewables and electrical temperature pushes, the UK is increasingly at the whim of this kind of gas cost volatility.

“The North Sea won’t support us as the price of gas is basically collection internationally and more going won’t carry down bills. Had the government’s home power effectiveness schemes maybe not been in decline, more individuals would be insulated from large bills that cold weather, but rather many will be colder and poorer.”

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