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Javascript is required to render chart Gas demand and supply source by month (GB).

Source: National Grid.

Information correct as of: April 2019

This chart shows monthly totals of gas supplies for the GB National Transmission System, broken down by the key different sources of supply. It also shows exports and storage injections.

Policy Areas:

  • Gas - wholesale markets

Data Table

Gas demand and supply source by month (GB)
Month beginningUKCSNorwayLNGIUKBBLStorageMoffatIUKStorage
01/10/20093.852.321.3400.230.12-0.51-0.6-0.32
01/11/20093.652.991.270.110.870.16-0.54-0.14-0.22
01/12/20094.083.351.670.481.050.87-0.630-0.21
01/01/20104.023.871.540.391.031.71-0.67-0.04-0.24
01/02/20103.683.551.330.130.881.19-0.59-0.07-0.13
01/03/20104.013.921.320.010.920.64-0.62-0.26-0.45
01/04/20103.772.791.7200.720.18-0.52-0.87-0.92
01/05/20103.822.811.5900.520.19-0.55-1.26-0.9
01/06/20103.053.050.9200.440.09-0.55-1.42-0.93
01/07/20103.22.090.9500.470.17-0.5-1.31-0.78
01/08/20102.951.841.3900.410.13-0.49-1.04-0.66
01/09/20103.111.421.4700.410.14-0.5-0.67-0.45
01/10/20103.542.911.6500.560.28-0.52-1.52-0.43
01/11/20103.463.261.790.090.890.71-0.62-0.34-0.34
01/12/20103.543.782.080.631.031.48-0.70-0.24
01/01/20113.593.072.430.310.960.81-0.65-0.01-0.36
01/02/20113.22.671.990.020.540.46-0.51-0.1-0.26
01/03/20113.42.852.460.040.210.37-0.57-0.12-0.69
01/04/20113.261.532.6800.490.14-0.52-1.24-1.07
01/05/20112.791.462.4800.50.18-0.5-1.12-0.77
01/06/20112.830.932.0200.370.09-0.48-0.88-0.61
01/07/20112.61.531.8600.360.06-0.5-1.02-0.7
01/08/20111.842.171.8100.310.21-0.51-1.34-0.35
01/09/20112.271.711.5800.390.06-0.47-0.67-0.43
01/10/201132.341.7300.370.14-0.49-1.39-0.25
01/11/20113.273.071.1400.520.19-0.48-1.05-0.23
01/12/20113.223.251.520.010.790.59-0.57-0.38-0.32
01/01/20123.023.641.10.020.860.86-0.56-0.18-0.3
01/02/20122.813.421.120.010.841.36-0.48-0.31-0.33
01/03/20123.162.981.0900.790.13-0.5-0.43-0.95
01/04/20122.562.161.6800.650.45-0.47-0.59-0.31
01/05/20122.382.281.340.010.480.24-0.49-0.53-0.72
01/06/20122.291.891.0200.280.11-0.45-0.35-0.86
01/07/20122.12.410.6500.320.12-0.43-0.96-0.72
01/08/20122.031.341.6300.190.1-0.46-1.09-0.61
01/09/20122.021.320.610.010.170.33-0.44-0.31-0.16
01/10/20122.52.880.370.310.560.2-0.5-0.18-0.52
01/11/20122.393.260.750.540.70.35-0.51-0.07-0.25
01/12/20122.353.781.120.420.920.81-0.53-0.13-0.45
01/01/20132.63.730.580.420.971.51-0.53-0.17-0.3
01/02/20132.283.390.350.510.941.81-0.49-0.06-0.26
01/03/20132.473.620.31.680.951.08-0.58-0.02-0.49
01/04/20132.53.231.120.150.650.34-0.51-0.3-0.93
01/05/20132.621.3400.490.33-0.49-0.5-0.99
01/06/20132.272.141.4400.270.14-0.44-0.62-1.34
01/07/20131.871.90.700.220.25-0.42-0.6-0.89
01/08/20131.651.630.50.020.270.21-0.44-0.19-0.83
01/09/20131.881.90.3600.240.26-0.42-0.24-0.36
01/10/20132.22.460.60.010.380.19-0.46-0.18-0.6
01/11/20132.293.20.970.260.910.33-0.52-0.02-0.22
01/12/20132.633.570.270.250.970.61-0.47-0.01-0.29
01/01/20142.73.530.240.191.10.9-0.52-0.02-0.15
01/02/20142.483.180.270.030.90.86-0.45-0.02-0.14
01/03/20142.622.820.420.070.950.54-0.49-0.05-0.48
01/04/20142.51.821.0600.630.22-0.41-0.49-0.69
01/05/20142.541.631.4300.340.29-0.51-0.79-0.72
01/06/20142.441.311.2400.370.18-0.49-0.49-0.97
01/07/20142.331.391.3500.220.19-0.45-0.84-0.6
01/08/20142.031.261.2800.190.2-0.46-0.51-0.38
01/09/20141.881.690.7600.430.19-0.47-0.65-0.24
01/10/20142.322.910.3300.390.31-0.45-0.5-0.46
01/11/20142.353.060.880.030.460.42-0.48-0.07-0.23
01/12/20142.463.640.910.040.740.75-0.5-0.04-0.22
01/01/20152.493.310.940.070.881.48-0.53-0.17-0.12
01/02/20152.153.390.760.10.661.47-0.5-0.05-0.16
01/03/20152.483.311.130.020.570.63-0.48-0.34-0.16
01/04/20152.642.280.8100.050.41-0.48-0.67-0.29
01/05/20152.791.941.3100.030.11-0.46-0.83-0.61
01/06/20152.491.670.8100.230.11-0.46-0.4-0.99
01/07/20152.182.140.8800.010.16-0.46-0.87-0.82
01/08/20152.222.281.25000.09-0.47-1.2-1.07
01/09/20152.242.271.0900.010.21-0.46-1.06-0.18
01/10/20152.5331.3900.010.18-0.52-0.86-0.56
01/11/20152.653.251.2800.30.32-0.46-0.76-0.29
01/12/20152.813.260.7600.60.27-0.46-0.52-0.27
01/01/20162.873.40.780.020.721.48-0.39-0.23-0.12
01/02/20162.443.21.20.030.611.19-0.41-0.13-0.15
01/03/20162.443.881.020.040.780.69-0.39-0.19-0.2
01/04/20162.453.170.420.001.040.48-0.35-0.47-0.13
01/05/20162.332.690.020.001.250.13-0.28-0.90-0.58
01/06/20161.992.570.030.030.400.15-0.24-0.04-0.84
01/07/20162.382.340.930.000.000.10-0.17-1.41-0.56
01/08/20161.802.160.610.000.010.29-0.23-0.88-0.27
01/09/20161.922.411.120.000.020.18-0.27-1.51-0.25
01/10/20162.403.880.180.000.370.21-0.24-0.45-0.27
01/11/20162.444.360.290.570.940.33-0.34-0.06-0.16
01/12/20162.604.600.260.820.470.50-0.290.00-0.4
01/01/20172.854.930.250.690.501.12-0.310.00-0.24
01/02/20172.424.260.190.500.330.66-0.24-0.02-0.43
01/03/20172.654.110.760.010.050.46-0.27-0.31-0.32
01/04/20172.623.190.950.000.000.62-0.26-1.22-0.24
01/05/20172.652.580.710.000.010.27-0.19-1.29-0.19
01/06/20172.492.020.280.000.000.21-0.21-0.76-0.50
01/07/20172.322.910.530.000.000.16-0.24-1.82-0.37
01/08/20171.793.030.460.000.000.19-0.24-1.52-0.32
01/09/20172.062.780.330.000.000.45-0.41-0.88-0.19
01/10/20172.633.460.260.000.040.49-0.33-0.66-0.59
01/11/20172.694.380.320.170.300.46-0.32-0.04-0.18
01/12/20171.894.570.251.480.700.89-0.290.00-0.53
01/01/20182.564.640.191.201.000.51-0.290.00-0.38
01/02/20182.384.170.331.210.530.84-0.31-0.02-0.21
01/03/20182.404.440.470.750.540.97-0.340.00-0.38
01/04/20182.493.400.480.050.060.41-0.29-0.13-0.29
01/05/20182.422.500.220.000.000.43-0.28-0.69-0.27
01/06/20182.361.720.160.000.010.27-0.25-0.26-0.44
01/07/20182.243.050.170.000.000.27-0.27-1.35-0.48
01/08/20181.942.810.170.000.000.29-0.24-1.09-0.41
01/09/20182.102.230.150.000.020.30-0.25-0.66-0.12
01/10/20182.253.420.640.010.070.26-0.32-0.01-0.49
01/11/20182.303.661.330.000.140.34-0.37-0.01-0.24
01/12/20182.373.991.390.050.440.49-0.360.00-0.29

More information

Gas demand and supply source: At-a-glance summary

In recent years gas demand has fallen across all consumers as boilers have become more efficient and demand for gas from power stations has fallen.

More than 75% of our gas comes from the UK continental shelf and Norway, with the remainder coming from continental Europe and global LNG.

Relevance and further information

The gas supply mix is a useful indicator of the diversity and origin of the gas supplied in GB. Having diverse sources of supply suggests greater resilience for GB gas supply.

Methodology

Positive values represent supplies to the GB system. This includes domestic production from UKCS, imports at LNG terminals, withdrawals from storage and imports via pipelines and interconnectors.

Negative values represent supplies from the GB system (excluding end-consumer demand). This includes injections to storage and exports via interconnectors. GB has three interconnectors linking us with Belgium (IUK), the Netherlands (BBL) and Ireland and Northern Ireland (Moffat).

For simplicity, we have assumed gas entering at the St. Fergus terminal to be from the UKCS for the Mobil subterminal, and from Norway for the Shell and Total subterminals. This is likely to marginally overstate gas flows from Norway.

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Chart

Javascript is required to render chart Electricity generation mix by quarter and fuel source (GB).

Source: BEIS Energy trends section 5: Electricity (ET 5.1) .

Information correct as of: April 2019

This chart shows quarterly totals of electricity generation by technology type for the GB National Electricity Transmission System, as well as net imports.

Policy Areas:

  • Electricity - wholesale markets

Data Table

Electricity generation mix by quarter and fuel source (GB)
DateCoalOilGasNuclearHydro (natural flow) Wind (onshore and offshore) and SolarBioenergyPumped storage (net supply)Other fuelsNet imports (Interconnectors)
Q1 200647.562.0629.9820.521.111.092.37-0.340.871.40
Q2 200628.551.0033.6918.210.960.792.13-0.250.782.86
Q3 200626.861.0735.3617.240.671.012.11-0.310.801.62
Q4 200638.521.2938.7313.261.821.352.49-0.300.801.63
Q1 200737.021.2242.8214.121.941.652.26-0.280.761.12
Q2 200724.101.0343.4713.730.840.931.96-0.280.860.89
Q3 200725.620.8136.5515.730.941.191.98-0.330.902.66
Q4 200742.291.4039.5513.661.311.512.34-0.340.780.54
Q1 200833.421.0347.6113.141.972.222.18-0.290.812.42
Q2 200826.291.2141.9311.080.841.272.05-0.300.803.56
Q3 200822.011.5243.2810.960.731.312.07-0.350.683.72
Q4 200836.332.1340.1712.491.572.352.32-0.350.741.33
Q1 200937.811.8837.2715.401.562.602.53-0.330.780.57
Q2 200919.101.0338.1116.450.911.982.28-0.260.712.78
Q3 200915.571.0342.0716.101.132.122.23-0.290.800.81
Q4 200925.321.4246.0114.811.602.602.57-0.290.74-1.30
Q1 201030.971.2947.3316.520.842.432.70-0.290.60-1.69
Q2 201018.550.8344.6812.610.651.672.66-0.270.631.42
Q3 201018.811.0340.1111.820.852.772.84-0.230.612.76
Q4 201033.861.1640.3415.491.233.452.94-0.280.560.18
Q1 201133.360.8137.5917.671.293.412.99-0.260.701.06
Q2 201118.090.5136.2517.401.133.692.80-0.220.701.53
Q3 201118.150.7037.9214.311.223.122.98-0.230.732.36
Q4 201133.410.7932.0513.282.005.993.07-0.240.531.27
Q1 201239.910.7726.7115.621.825.253.45-0.260.731.99
Q2 201229.630.6124.7716.830.794.332.63-0.240.813.12
Q3 201227.310.5022.5416.381.054.913.11-0.250.824.06
Q4 201238.670.7024.2515.121.636.713.75-0.270.822.70
Q1 201339.300.4726.7116.611.246.923.58-0.270.792.81
Q2 201327.360.4223.7014.050.967.194.40-0.260.833.56
Q3 201325.190.5420.9516.970.745.593.86-0.260.784.65
Q4 201331.730.4422.6616.501.7310.713.83-0.250.783.40
Q1 201432.770.4921.3115.012.2211.523.91-0.260.924.89
Q2 201420.960.4723.3315.901.106.604.70-0.250.885.08
Q3 201415.080.4128.6214.220.776.695.12-0.240.905.43
Q4 201426.270.3825.7412.771.7411.205.80-0.260.935.12
Q1 201528.040.4723.1916.512.0012.786.05-0.251.114.96
Q2 201515.190.3823.0215.371.4111.446.10-0.231.075.60
Q3 201512.170.4926.0615.041.029.926.11-0.251.095.92
Q4 201516.580.5025.7316.981.8213.687.14-0.251.034.62
Q1 201613.940.3033.4515.752.1612.997.45-0.271.306.04
Q2 20164.340.5133.8215.130.9711.126.72-0.261.205.36
Q3 20162.570.4132.0417.131.1911.935.38-0.231.254.74
Q4 20168.250.4941.3017.141.2511.636.62-0.301.431.61
Q1 20179.900.3437.2516.031.8814.507.64-0.291.182.61
Q2 20171.460.3331.2216.200.9014.806.67-0.251.195.25
Q3 20172.050.4229.6216.511.3013.596.61-0.211.195.30
Q4 20177.970.3936.1515.161.7918.646.21-0.251.221.60
Q1 20188.260.4636.2315.121.5719.186.43-0.270.945.38
Q2 20181.150.2831.5215.101.0015.137.52-0.240.955.15
Q3 20181.760.3128.5215.670.8915.167.68-0.200.934.93
Q4 20184.800.4732.8013.211.9520.578.70-0.190.993.65

More information

Electricity generation mix: At-a-glance summary

The GB electricity system is undergoing a period of significant change as we transition from a large-scale conventional fossil fuel dominated generation mix to intermittent renewable generation. Over the past few years, we have seen a marked increase in output from wind and solar farms. Since 2015, the share of electricity generated from gas increased, while the share generated from coal decreased. This was partly due to improved economics for gas-fired generators.

Relevance and further information

The electricity generation mix is a useful indicator of trends in the diversity and origin of electricity in GB.

Methodology

Positive values represent supplies to the GB system. This includes electricity produced by GB power stations and imports via interconnectors. 

Negative values represent supplies from the GB system (excluding end consumer demand). This includes power demanded by GB power stations and exports via interconnectors. 

Data marked as ‘(net)’ is underpinned by both positive (generation) and negative (demand) values. For instance, interconnectors can both import and export electricity. Similarly, pumped storage can both demand electricity to pump and generate electricity when releasing water through its turbines. As data is summarised as quarterly values, the net calculation for certain generation sources underestimates the full extent of generation and demand.

The data is updated quarterly using BEIS’ Energy Trends publication. Some historical figures may differ because of rounding.

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Chart

Javascript is required to render chart Gas bid-offer spreads by contract type (GB).

Source: Ofgem calculations using data from ICIS.

Information correct as of: April 2019

The chart shows bid-offer spreads across a range of contracts for gas delivered on the GB gas hub (the National Balancing Point) for different periods of time in the future. Figures are presented as monthly averages of daily spreads.

Policy Areas:

  • Gas - wholesale markets

Data Table

Gas bid-offer spreads by contract type (GB)
Month beginningDay-aheadFront MonthFront QuarterFront SeasonSecond SeasonThird SeasonFourth Season
01/01/20060.15%0.23%0.40%
01/02/20060.36%0.27%0.34%
01/03/20060.21%0.25%0.28%
01/04/20060.16%0.19%0.27%
01/05/20060.26%0.25%0.24%0.27%0.34%0.50%0.40%
01/06/20060.66%0.25%0.28%0.28%0.24%0.38%0.24%
01/07/20060.15%0.26%0.18%0.36%0.23%0.34%0.25%
01/08/20060.20%0.27%0.18%0.40%0.33%0.39%0.28%
01/09/20060.37%0.26%0.20%0.40%0.26%0.42%0.34%
01/10/20060.39%0.22%0.18%0.30%0.38%0.42%0.49%
01/11/20060.20%0.19%0.21%0.29%0.51%0.37%0.53%
01/12/20060.33%0.26%0.26%0.36%0.51%0.33%0.42%
01/01/20070.34%0.33%0.43%0.42%0.31%0.37%0.32%
01/02/20070.27%0.44%0.68%0.68%0.27%0.40%0.29%
01/03/20070.31%0.52%0.51%0.53%0.32%0.50%0.33%
01/04/20070.33%0.54%0.53%0.21%0.36%0.29%0.49%
01/05/20070.33%0.52%0.58%0.27%0.44%0.33%0.41%
01/06/20070.33%0.65%0.61%0.28%0.36%0.24%0.43%
01/07/20070.23%0.45%0.42%0.37%0.48%0.45%0.57%
01/08/20070.20%0.48%0.34%0.28%0.41%0.46%0.59%
01/09/20070.17%0.42%0.35%0.32%0.33%0.43%0.59%
01/10/20070.19%0.44%0.35%0.53%0.41%0.55%0.42%
01/11/20070.16%0.33%0.28%0.53%0.35%0.44%0.38%
01/12/20070.14%0.33%0.26%0.37%0.33%0.41%0.36%
01/01/20080.12%0.29%0.33%0.28%0.25%0.40%0.32%
01/02/20080.10%0.32%0.32%0.25%0.23%0.41%0.31%
01/03/20080.10%0.26%0.29%0.26%0.14%0.19%0.16%
01/04/20080.08%0.20%0.25%0.19%0.20%0.17%0.31%
01/05/20080.09%0.22%0.26%0.18%0.26%0.21%0.30%
01/06/20080.08%0.21%0.21%0.17%0.22%0.18%0.26%
01/07/20080.15%0.28%0.23%0.24%0.23%0.19%0.24%
01/08/20080.10%0.28%0.23%0.22%0.30%0.20%0.35%
01/09/20080.08%0.27%0.23%0.24%0.23%0.18%0.32%
01/10/20080.17%0.27%0.35%0.34%0.29%0.40%0.37%
01/11/20080.19%0.36%0.42%0.40%0.35%0.42%0.46%
01/12/20080.27%0.28%0.33%0.43%0.34%0.49%0.41%
01/01/20090.11%0.38%0.50%0.43%0.36%0.53%0.42%
01/02/20090.15%0.41%0.56%0.52%0.36%0.55%0.38%
01/03/20090.16%0.41%0.54%0.55%0.37%0.43%0.35%
01/04/20090.32%0.50%0.79%0.35%0.44%0.28%0.49%
01/05/20090.19%0.43%0.56%0.31%0.35%0.28%0.42%
01/06/20090.26%0.41%0.53%0.36%0.33%0.31%0.46%
01/07/20090.24%0.56%0.46%0.38%0.36%0.32%0.41%
01/08/20090.27%0.52%0.39%0.31%0.34%0.28%0.28%
01/09/20090.30%0.57%0.53%0.57%0.52%0.47%0.45%
01/10/20090.29%0.39%0.63%0.49%0.45%0.59%0.51%
01/11/20090.18%0.44%0.69%0.55%0.42%0.58%0.54%
01/12/20090.17%0.46%0.56%0.65%0.50%0.66%0.65%
01/01/20100.19%0.47%0.82%0.62%0.47%0.74%0.68%
01/02/20100.15%0.37%0.54%0.46%0.51%0.86%0.77%
01/03/20100.19%0.42%0.53%0.65%0.53%0.72%0.58%
01/04/20100.15%0.45%0.84%0.51%0.66%0.59%0.78%
01/05/20100.23%0.45%0.72%0.50%0.60%0.59%0.80%
01/06/20100.14%0.42%0.50%0.43%0.52%0.47%0.72%
01/07/20100.13%0.41%0.62%0.50%0.63%0.59%0.75%
01/08/20100.13%0.37%0.54%0.47%0.51%0.55%0.63%
01/09/20100.12%0.26%0.31%0.41%0.41%0.46%0.61%
01/10/20100.12%0.24%0.48%0.35%0.39%0.52%0.44%
01/11/20100.13%0.28%0.41%0.37%0.41%0.60%0.60%
01/12/20100.08%0.30%0.35%0.48%0.42%0.64%0.60%
01/01/20110.10%0.31%0.52%0.40%0.37%0.51%0.50%
01/02/20110.12%0.23%0.41%0.36%0.30%0.45%0.47%
01/03/20110.08%0.25%0.28%0.34%0.25%0.43%0.34%
01/04/20110.12%0.19%0.36%0.19%0.30%0.30%0.35%
01/05/20110.10%0.20%0.39%0.27%0.34%0.36%0.55%
01/06/20110.09%0.17%0.27%0.23%0.33%0.26%0.57%
01/07/20110.11%0.18%0.34%0.26%0.28%0.24%0.44%
01/08/20110.11%0.28%0.24%0.22%0.29%0.27%0.49%
01/09/20110.16%0.22%0.24%0.30%0.26%0.24%0.43%
01/10/20110.11%0.20%0.33%0.27%0.25%0.37%0.40%
01/11/20110.11%0.19%0.29%0.26%0.24%0.30%0.44%
01/12/20110.12%0.26%0.29%0.37%0.31%0.43%0.44%
01/01/20120.12%0.23%0.40%0.37%0.33%0.44%0.41%
01/02/20120.10%0.29%0.52%0.51%0.36%0.54%0.51%
01/03/20120.11%0.29%0.38%0.42%0.31%0.42%0.50%
01/04/20120.09%0.24%0.43%0.27%0.32%0.36%0.46%
01/05/20120.11%0.22%0.35%0.29%0.38%0.35%0.45%
01/06/20120.11%0.30%0.33%0.31%0.34%0.31%0.37%
01/07/20120.13%0.21%0.34%0.31%0.37%0.35%0.55%
01/08/20120.12%0.20%0.32%0.31%0.34%0.34%0.42%
01/09/20120.12%0.22%0.29%0.30%0.36%0.42%0.51%
01/10/20120.08%0.16%0.33%0.28%0.30%0.40%0.41%
01/11/20120.09%0.16%0.27%0.31%0.30%0.46%0.43%
01/12/20120.12%0.17%0.24%0.30%0.33%0.47%0.51%
01/01/20130.09%0.18%0.28%0.27%0.24%0.37%0.35%
01/02/20130.09%0.14%0.27%0.26%0.22%0.35%0.36%
01/03/20130.15%0.21%0.32%0.34%0.24%0.35%0.36%
01/04/20130.10%0.17%0.33%0.17%0.26%0.34%0.58%
01/05/20130.09%0.13%0.24%0.14%0.25%0.31%0.62%
01/06/20130.14%0.16%0.21%0.24%0.32%0.27%0.55%
01/07/20130.09%0.11%0.17%0.16%0.21%0.19%0.43%
01/08/20130.09%0.12%0.13%0.12%0.17%0.17%0.32%
01/09/20130.09%0.10%0.14%0.15%0.21%0.15%0.32%
01/10/20130.08%0.09%0.13%0.15%0.17%0.26%0.46%
01/11/20130.09%0.11%0.15%0.16%0.16%0.25%0.34%
01/12/20130.09%0.11%0.14%0.17%0.17%0.24%0.33%
01/01/20140.08%0.12%0.20%0.18%0.18%0.29%0.22%
01/02/20140.11%0.18%0.21%0.21%0.22%0.27%0.28%
01/03/20140.11%0.15%0.18%0.19%0.19%0.30%0.26%
01/04/20140.14%0.23%0.21%0.19%0.34%0.37%0.54%
01/05/20140.12%0.20%0.30%0.17%0.38%0.31%0.43%
01/06/20140.16%0.25%0.29%0.24%0.26%0.35%0.60%
01/07/20140.21%0.36%0.26%0.24%0.29%0.31%0.53%
01/08/20140.19%0.21%0.24%0.23%0.25%0.24%0.26%
01/09/20140.17%0.19%0.20%0.20%0.34%0.28%0.31%
01/10/20140.18%0.17%0.19%0.25%0.33%0.27%0.37%
01/11/20140.17%0.18%0.18%0.25%0.27%0.34%0.36%
01/12/20140.12%0.16%0.17%0.27%0.25%0.25%0.29%
01/01/20150.17%0.26%0.35%0.35%0.31%0.44%0.38%
01/02/20150.13%0.22%0.26%0.28%0.35%0.45%0.39%
01/03/20150.15%0.20%0.23%0.24%0.21%0.36%0.36%
01/04/20150.26%0.22%0.24%0.25%0.31%0.35%0.55%
01/05/20150.13%0.18%0.26%0.20%0.31%0.27%0.48%
01/06/20150.24%0.22%0.24%0.25%0.31%0.33%0.44%
01/07/20150.13%0.20%0.19%0.18%0.20%0.24%0.37%
01/08/20150.11%0.16%0.20%0.18%0.24%0.32%0.36%
01/09/20150.14%0.13%0.15%0.15%0.20%0.23%0.33%
01/10/20150.21%0.12%0.17%0.19%0.17%0.24%0.33%
01/11/20150.19%0.18%0.18%0.22%0.19%0.34%0.49%
01/12/20150.23%0.16%0.20%0.27%0.22%0.43%0.47%
01/01/20160.22%0.23%0.28%0.28%0.27%0.36%0.36%
01/02/20160.20%0.32%0.42%0.42%0.35%0.43%0.51%
01/03/20160.18%0.22%0.32%0.31%0.31%0.45%0.38%
01/04/20160.27%0.27%0.34%0.31%0.40%0.44%0.58%
01/05/20160.14%0.24%0.32%0.31%0.38%0.44%0.54%
01/06/20160.23%0.20%0.29%0.30%0.32%0.45%0.60%
01/07/20160.21%0.16%0.23%0.22%0.32%0.32%0.49%
01/08/20160.24%0.28%0.34%0.32%0.36%0.35%0.50%
01/09/20160.34%0.37%0.42%0.40%0.51%0.61%0.71%
01/10/20160.15%0.22%0.28%0.38%0.36%0.50%0.54%
01/11/20160.18%0.16%0.25%0.35%0.34%0.44%0.45%
01/12/20160.18%0.15%0.21%0.24%0.30%0.57%0.63%
01/01/20170.17%0.24%0.26%0.27%0.27%0.37%0.48%
01/02/20170.13%0.16%0.25%0.26%0.29%0.37%0.43%
01/03/20170.11%0.13%0.21%0.24%0.25%0.37%0.38%
01/04/20170.26%0.14%0.28%0.17%0.28%0.31%0.58%
01/05/20170.20%0.14%0.24%0.17%0.24%0.34%0.52%
01/06/20170.24%0.11%0.19%0.17%0.24%0.24%0.34%
01/07/20170.14%0.11%0.13%0.13%0.15%0.29%0.34%
01/08/20170.15%0.12%0.15%0.14%0.32%0.27%0.49%
01/09/20170.13%0.10%0.13%0.15%0.23%0.31%0.42%
01/10/20170.11%0.18%0.16%0.21%0.25%0.41%0.39%
01/11/20170.07%0.10%0.16%0.22%0.25%0.34%0.33%
01/12/20170.17%0.17%0.23%0.31%0.21%0.45%0.48%
01/01/20180.09%0.19%0.19%0.21%0.17%0.26%0.27%
01/02/20180.10%0.14%0.21%0.22%0.21%0.33%0.27%
01/03/20180.18%0.15%0.21%0.23%0.25%0.36%0.44%
01/04/20180.16%0.15%0.21%0.24%0.32%0.35%0.53%
01/05/20180.17%0.15%0.15%0.15%0.30%0.27%0.56%
01/06/20180.13%0.14%0.16%0.18%0.34%0.30%0.62%
01/07/20180.13%0.13%0.16%0.14%0.23%0.32%0.46%
01/08/20180.10%0.12%0.14%0.13%0.18%0.24%0.55%
01/09/20180.19%0.13%0.19%0.19%0.25%0.27%0.56%
01/10/20180.14%0.14%0.27%0.31%0.30%0.36%0.34%
01/11/20180.09%0.18%0.29%0.21%0.24%0.40%0.60%
01/12/20180.24%0.23%0.27%0.32%0.32%0.48%0.56%

More information

Gas bid offer spreads: At-a-glance summary

Bid-offer spreads in the GB gas market are low by international standards, indicating that it is relatively easy to trade in the GB gas market. 

Bid-offer spreads across a range of different contracts have tightened since 2010. 

Relevance and further information

The bid-offer spread is one indicator of market liquidity. It is the difference between the best bid to buy and the best offer to sell. Tighter spreads suggest a more liquid market and robust pricing. 

Liquidity is an important feature of mature markets, often reflecting a large number of buyers and sellers. Liquid markets also facilitate new entry by making it easier to buy and sell gas at a fair price. For example, in a liquid market a new supplier can more easily enter the market and buy the gas they need to cover their consumers’ demand whilst also having confidence in the price they are paying for that gas.  

Methodology

The bid-offer spread is calculated by subtracting the bid price from the offer price and then dividing by the offer price. It is them multiplied by 100 to give a percentage. 

Spreads are based on over-the-counter trading and are assessed by using ICIS’s price assessment.

close

Chart

Javascript is required to render chart Electricity bid-offer spreads by contract type (GB).

Source: Ofgem calculations using data from ICIS .

Information correct as of: April 2019

This chart shows bid-offer spreads across a range of contracts for electricity delivered in GB for different periods of time in the future. Figures are presented as monthly averages of daily spreads.

Policy Areas:

  • Electricity - wholesale markets

Data Table

Electricity bid-offer spreads by contract type (GB)
Month beginningDay-aheadFront MonthFront QuarterFront SeasonSecond SeasonThird SeasonFourth Season
01/01/20060.63%0.60%0.87%0.68%0.70%1.10%0.90%
01/02/20060.71%0.64%0.91%0.86%0.57%0.91%0.60%
01/03/20061.16%0.60%1.03%1.01%0.58%1.15%0.75%
01/04/20060.70%0.60%0.97%0.56%0.91%0.71%0.97%
01/05/20060.97%0.75%0.75%0.54%0.83%0.53%0.79%
01/06/20061.29%0.59%1.00%0.57%0.76%0.59%0.81%
01/07/20060.74%0.68%0.73%0.51%0.65%0.60%0.82%
01/08/20060.86%0.46%0.72%0.52%0.62%0.61%0.87%
01/09/20061.19%0.64%0.97%0.66%0.66%0.80%0.96%
01/10/20061.66%0.55%0.71%0.86%0.77%1.03%1.00%
01/11/20061.29%0.59%0.72%0.74%0.70%0.95%0.87%
01/12/20061.44%0.88%1.19%1.22%0.99%1.37%1.10%
01/01/20071.68%1.00%2.23%1.08%0.84%1.10%1.03%
01/02/20071.99%1.17%1.85%1.16%0.83%1.20%1.33%
01/03/20072.38%1.08%1.74%1.36%0.83%1.23%1.04%
01/04/20072.75%0.86%0.95%0.78%0.99%0.99%1.48%
01/05/20072.23%0.94%1.46%0.76%0.73%1.01%1.26%
01/06/20072.35%0.74%0.92%0.66%0.73%0.94%1.15%
01/07/20072.93%0.76%1.27%0.61%0.82%0.77%1.25%
01/08/20071.82%0.83%1.14%0.62%0.67%0.76%1.08%
01/09/20071.73%0.67%0.92%0.63%0.86%0.64%0.79%
01/10/20071.37%0.74%0.76%0.74%0.78%1.02%0.83%
01/11/20070.89%0.65%0.81%0.71%0.85%1.04%1.00%
01/12/20071.15%0.63%0.94%0.83%0.74%1.30%1.24%
01/01/20080.73%0.63%1.19%0.82%0.75%1.02%0.97%
01/02/20081.12%0.58%1.21%0.84%0.68%1.16%0.90%
01/03/20080.88%0.40%0.94%0.62%0.51%1.01%0.70%
01/04/20080.83%0.38%0.74%0.62%0.74%0.70%0.91%
01/05/20080.85%0.40%0.63%0.56%0.55%0.69%0.94%
01/06/20080.74%0.41%0.68%0.49%0.57%0.68%0.90%
01/07/20080.78%0.29%0.96%0.52%0.67%0.72%0.78%
01/08/20080.82%0.40%0.77%0.60%0.76%0.68%1.09%
01/09/20080.71%0.33%0.69%0.67%0.66%0.67%0.95%
01/10/20080.95%0.62%0.87%0.69%0.74%1.17%1.11%
01/11/20080.70%0.57%1.08%0.80%0.88%1.19%1.21%
01/12/20081.34%0.83%1.22%0.96%0.89%1.30%1.12%
01/01/20091.35%0.84%2.03%1.03%0.92%1.55%1.26%
01/02/20091.92%0.93%1.96%1.05%0.86%1.49%1.26%
01/03/20091.88%0.85%1.48%1.09%0.79%1.28%1.14%
01/04/20092.13%0.80%0.99%0.57%0.75%0.73%1.17%
01/05/20091.43%0.47%1.19%0.61%0.80%0.81%1.19%
01/06/20091.52%0.61%1.11%0.62%0.88%0.74%0.92%
01/07/20092.02%0.74%0.97%0.69%0.82%1.03%1.23%
01/08/20092.30%0.65%1.21%0.69%0.61%0.72%0.70%
01/09/20091.10%0.47%1.38%0.83%0.79%0.88%0.99%
01/10/20090.70%0.47%0.55%0.72%0.55%0.82%0.73%
01/11/20090.68%0.42%0.51%0.48%0.61%0.94%0.90%
01/12/20090.72%0.89%1.19%1.09%1.01%1.38%1.24%
01/01/20100.64%0.60%1.50%0.81%0.81%1.16%1.13%
01/02/20100.61%0.49%1.19%0.67%0.69%1.05%1.07%
01/03/20100.80%0.60%1.72%1.11%0.66%1.09%1.08%
01/04/20100.73%0.79%0.93%0.80%0.98%1.13%1.42%
01/05/20100.63%0.60%0.77%0.60%0.90%0.95%1.39%
01/06/20100.67%0.63%1.15%0.75%1.09%1.13%1.39%
01/07/20100.56%0.64%1.83%0.67%0.99%1.00%1.22%
01/08/20100.55%0.67%1.58%0.69%1.02%1.10%1.38%
01/09/20100.66%0.50%1.58%0.64%0.73%0.77%1.16%
01/10/20100.56%0.57%0.83%0.55%0.64%0.85%1.00%
01/11/20100.53%0.52%0.56%0.49%0.49%0.71%0.87%
01/12/20100.49%0.53%0.98%0.70%0.65%1.13%0.91%
01/01/20110.45%1.91%1.72%0.43%0.49%0.81%0.98%
01/02/20110.48%1.40%1.66%0.46%0.44%0.78%0.75%
01/03/20110.48%0.63%1.36%0.52%0.39%0.63%0.64%
01/04/20110.39%0.42%0.52%0.50%0.49%0.62%0.76%
01/05/20110.43%0.41%0.48%0.39%0.55%0.77%0.87%
01/06/20110.39%0.43%0.67%0.44%0.68%0.63%0.71%
01/07/20110.45%0.58%0.70%0.39%0.67%0.66%0.78%
01/08/20110.65%0.46%0.77%0.43%0.57%0.69%0.97%
01/09/20110.56%0.54%0.74%0.54%0.64%0.71%0.88%
01/10/20110.48%0.46%0.63%0.64%0.69%0.87%0.96%
01/11/20110.59%0.44%0.56%0.52%0.54%0.99%0.94%
01/12/20110.49%0.55%1.00%0.68%0.75%1.23%1.16%
01/01/20120.54%0.53%1.78%0.70%0.73%0.86%0.94%
01/02/20120.44%0.60%1.75%0.64%0.55%0.83%0.98%
01/03/20120.47%0.55%1.37%0.70%0.54%0.82%0.85%
01/04/20120.48%0.70%0.90%0.62%0.68%0.77%1.11%
01/05/20120.46%0.52%0.89%0.48%0.70%0.75%1.08%
01/06/20120.49%0.58%1.04%0.46%0.69%0.85%1.18%
01/07/20120.49%0.58%1.14%0.47%0.83%0.81%0.98%
01/08/20120.55%0.52%1.13%0.42%0.79%0.85%0.97%
01/09/20120.48%0.49%0.96%0.49%0.74%0.75%0.90%
01/10/20120.48%0.47%0.77%0.42%0.62%0.89%0.89%
01/11/20120.47%0.44%0.58%0.43%0.47%0.89%0.89%
01/12/20120.51%0.42%0.84%0.52%0.67%0.83%0.98%
01/01/20130.40%0.42%0.96%0.44%0.44%0.79%0.80%
01/02/20130.49%0.44%1.06%0.63%0.57%0.76%0.79%
01/03/20130.42%0.48%1.05%0.49%0.55%0.60%0.68%
01/04/20130.39%0.48%0.71%0.41%0.57%0.57%0.77%
01/05/20130.41%0.50%0.59%0.40%0.50%0.51%0.76%
01/06/20130.45%0.44%0.55%0.38%0.53%0.46%0.70%
01/07/20130.43%0.40%0.64%0.36%0.47%0.37%0.51%
01/08/20130.42%0.44%0.53%0.37%0.47%0.36%0.47%
01/09/20130.40%0.41%0.67%0.39%0.49%0.47%0.53%
01/10/20130.42%0.33%0.45%0.33%0.30%0.45%0.43%
01/11/20130.34%0.41%0.33%0.25%0.24%0.48%0.42%
01/12/20130.37%0.39%0.57%0.38%0.42%0.44%0.56%
01/01/20140.37%0.44%0.78%0.32%0.28%0.29%0.36%
01/02/20140.40%0.54%0.94%0.59%0.53%0.46%0.41%
01/03/20140.43%0.50%1.11%0.66%0.51%0.56%0.37%
01/04/20140.48%0.34%0.46%0.37%0.33%0.32%0.44%
01/05/20140.44%0.39%0.41%0.32%0.28%0.30%0.36%
01/06/20140.22%0.40%0.56%0.28%0.31%0.27%0.41%
01/07/20140.33%0.35%0.48%0.27%0.26%0.28%0.41%
01/08/20140.33%0.31%0.40%0.25%0.21%0.30%0.31%
01/09/20140.25%0.28%0.33%0.27%0.30%0.25%0.26%
01/10/20140.25%0.24%0.33%0.22%0.25%0.37%0.24%
01/11/20140.21%0.23%0.24%0.32%0.25%0.26%0.30%
01/12/20140.25%0.33%0.27%0.26%0.26%0.33%0.35%
01/01/20150.29%0.22%0.30%0.25%0.26%0.33%0.28%
01/02/20150.26%0.29%0.35%0.24%0.32%0.36%0.39%
01/03/20150.25%0.21%0.28%0.27%0.24%0.32%0.31%
01/04/20150.24%0.21%0.24%0.24%0.24%0.26%0.33%
01/05/20150.24%0.17%0.28%0.27%0.20%0.24%0.33%
01/06/20150.28%0.23%0.23%0.24%0.21%0.28%0.34%
01/07/20150.26%0.22%0.30%0.23%0.23%0.31%0.30%
01/08/20150.24%0.19%0.29%0.25%0.20%0.28%0.32%
01/09/20150.27%0.26%0.34%0.29%0.26%0.30%0.28%
01/10/20150.27%0.19%0.33%0.25%0.26%0.30%0.35%
01/11/20150.31%0.27%0.27%0.28%0.22%0.31%0.35%
01/12/20150.27%0.27%0.26%0.29%0.32%0.36%0.35%
01/01/20160.27%0.23%0.33%0.25%0.27%0.32%0.31%
01/02/20160.32%0.24%0.34%0.34%0.28%0.32%0.33%
01/03/20160.36%0.23%0.31%0.29%0.24%0.25%0.33%
01/04/20160.29%0.23%0.31%0.25%0.28%0.33%0.39%
01/05/20160.29%0.34%0.28%0.28%0.32%0.40%0.42%
01/06/20160.27%0.30%0.33%0.30%0.32%0.34%0.41%
01/07/20160.31%0.29%0.45%0.35%0.32%0.33%0.43%
01/08/20160.29%0.27%0.35%0.27%0.28%0.34%0.35%
01/09/20160.25%0.28%0.33%0.35%0.29%0.34%0.37%
01/10/20160.23%0.35%0.31%0.31%0.33%0.31%0.30%
01/11/20160.23%0.32%0.38%0.36%0.30%0.32%0.34%
01/12/20160.27%0.38%0.41%0.30%0.35%0.34%0.30%
01/01/20170.30%0.32%0.44%0.35%0.30%0.30%0.35%
01/02/20170.38%0.28%0.35%0.28%0.28%0.26%0.32%
01/03/20170.47%0.36%0.34%0.32%0.25%0.33%0.33%
01/04/20170.47%0.25%0.32%0.35%0.31%0.33%0.38%
01/05/20170.49%0.31%0.27%0.24%0.29%0.39%0.38%
01/06/20170.51%0.30%0.29%0.28%0.34%0.32%0.38%
01/07/20170.47%0.22%0.32%0.23%0.30%0.29%0.37%
01/08/20170.50%0.23%0.33%0.22%0.25%0.44%0.38%
01/09/20170.42%0.41%0.41%0.31%0.25%0.35%0.40%
01/10/20170.25%0.16%0.18%0.15%0.16%0.21%0.25%
01/11/20170.21%0.13%0.15%0.13%0.15%0.19%0.19%
01/12/20170.22%0.14%0.17%0.14%0.16%0.21%0.24%
01/01/20180.42%0.29%0.46%0.33%0.34%0.41%0.42%
01/02/20180.44%0.30%0.39%0.35%0.31%0.43%0.46%
01/03/20180.49%0.36%0.40%0.30%0.26%0.30%0.41%
01/04/20180.55%0.33%0.37%0.30%0.32%0.35%0.41%
01/05/20180.39%0.29%0.37%0.24%0.30%0.33%0.43%
01/06/20180.45%0.31%0.44%0.34%0.38%0.42%0.45%
01/07/20180.37%0.34%0.36%0.29%0.29%0.39%0.41%
01/08/20180.36%0.34%0.35%0.25%0.29%0.32%0.37%
01/09/20180.34%0.29%0.36%0.27%0.32%0.44%0.45%
01/10/20180.31%0.29%0.36%0.33%0.32%0.42%0.46%
01/11/20180.43%0.25%0.31%0.28%0.27%0.35%0.44%
01/12/20180.38%0.33%0.37%0.26%0.34%0.49%0.45%

More information

Electricity bid-offer spreads: At-a-glance summary

Bid-offer spreads have consistently narrowed over the course of the last four years, indicating that the ability of firms to trade has improved over the period. This follows the Secure and Promote reforms that Ofgem put in place which place obligations on large generators to post bids and offers. Spreads are typically wider for peak products than for baseload, reflecting the higher volume of trading that occurs in baseload products.

Relevance and further information

The bid-offer spread is one indicator of market liquidity. It is the difference between the best bid to buy and the best offer to sell. It measures the premium an urgent buyer must pay if it wants to buy and the discount an urgent seller must make if it wants to sell. Tighter spreads suggest a more liquid market and robust pricing. 

Liquidity is an important feature of mature markets, often reflecting a large number of buyers and sellers. Liquid markets also facilitate new entry by making it easier to buy and sell electricity at a good price. For example, in a liquid market a new supplier can more easily enter the market and buy the power they need to cover their consumers’ demand whilst also having confidence in the price they are paying.

Methodology

The bid-offer spread is calculated by subtracting the bid price from the offer price and dividing it by the offer price. It is then multiplied by 100 to give a percentage. 

Spreads are based on over-the-counter trading and are assessed by ICIS at 4.30pm each business day.

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Chart

Javascript is required to render chart Gas trading volumes and monthly churn ratio by platform (GB).

Source: ICE, LEBA, ICE Endex & National Grid.

Information correct as of: April 2019

This chart shows the total monthly volumes of gas traded in GB across different trading platforms. The churn ratio is also shown.

Policy Areas:

  • Gas - wholesale markets

Data Table

Gas trading volumes and monthly churn ratio by platform (GB)
MonthChurnICEICE EndexOTC
01/01/20111229.841.15103.61
01/02/20111838.670.96123.64
01/03/20112257.190.85145.68
01/04/20111533.281.1785.32
01/05/20111527.940.9981.35
01/06/20112133.360.7698
01/07/20112037.160.8889.15
01/08/20112860.590.95115.88
01/09/20112647.710.93108.36
01/10/20111847.31.4889.39
01/11/20112049.611.34109.81
01/12/20111131.571.3366.34
01/01/20122159.231.16137.42
01/02/20122477.710.82151.69
01/03/20122255.691.07126.35
01/04/20121742.241.0286.1
01/05/20122246.871.3199.46
01/06/201220371.0676.28
01/07/20122241.060.9583.71
01/08/20122441.181.1382.96
01/09/20122639.680.9573.82
01/10/20122461.681.2497.1
01/11/20121756.221.0279.67
01/12/20121031.161.0362.54
01/01/20131548.541.0795.63
01/02/20131754.061.01106
01/03/20131656.021.5298.72
01/04/20131642.631.1180.81
01/05/20131841.131.0980.74
01/06/20132141.251.2185.54
01/07/20131724.71.0661.22
01/08/20132330.721.167.71
01/09/20132738.491.1484.27
01/10/20132236.171.0791.93
01/11/20131646.461.0582.78
01/12/20131139.181.1153.87
01/01/20142382.450.91112.19
01/02/20142575.120.99112.6
01/03/20142689.271.03110.45
01/04/20142777.361.1588.62
01/05/20142160.251.1171.52
01/06/20142772.430.9475.66
01/07/20143082.40.9579.12
01/08/20142567.170.9757.72
01/09/20143074.080.9574.03
01/10/20142570.421.1187.23
01/11/20142067.030.9975.88
01/12/20141560.050.9565.45
01/01/201522103.240.94101.41
01/02/201525117.190.9395.02
01/03/201527112.120.92105.54
01/04/20152159.320.8669.28
01/05/20152058.520.8862.58
01/06/20152767.580.7677.56
01/07/20152675.080.764.32
01/08/20152266.240.8760.95
01/09/20152467.540.7670.3
01/10/20152381.380.7679.09
01/11/201523103.660.977.38
01/12/20151664.330.7958.75
01/01/201623117.840.8792.09
01/02/201623107.750.7691.49
01/03/20161985.470.9782.96
01/04/20162389.580.9381.5
01/05/20162679.050.8887.64
01/06/20163488.150.7985.07
01/07/20162257.530.7164.94
01/08/20162560.50.7259.59
01/09/20162565.740.7276.25
01/10/20161857.30.7165.63
01/11/20161566.410.6562.95
01/12/20161049.670.8341.37
01/01/20171584.620.865.89
01/02/20172089.560.6773.52
01/03/20172189.130.774.93
01/04/20171872.010.7956.95
01/05/20172485.410.7163.68
01/06/20173182.90.7570.14
01/07/20172695.880.6553.98
01/08/201733119.220.5961.29
01/09/201731113.610.6762.05
01/10/20172186.050.7958.45
01/11/20172094.410.6971.19
01/12/20171265.960.8353.32
01/01/20181578.980.7770.5
01/02/20181577.120.6760.29
01/03/20181472.90.8561.84
01/04/20181977.970.7354.18
01/05/201831107.480.7566.81
01/06/20183280.970.5762.6
01/07/20181856.720.644.74
01/08/20182481.980.6144.53
01/09/20183088.230.6454.51
01/10/20182178.610.7057.15
01/11/20181772.970.6555.61
01/12/2018945.230.8630.24

More information

Gas trading volumes and churn ratio: At-a-glance summary

Churn in the GB gas market at the National Balancing Point (NBP) remains high and over the past year has hovered between 9 and 32. This is indicative of a highly liquid market. There is also a diverse range of products and platforms available for those looking to trade at the NBP. This includes a wide range of forward and spot contracts with significant trading volumes throughout. Since January 2014, the location of NBP trading has shifted from being dominated by over-the-counter (OTC) trading to a more even spread between OTC and exchange based trading.

Relevance and further information

Churn is one metric used to assess market liquidity. It shows how often a unit of gas is traded before it is delivered to end consumers. 

Liquidity is an important feature of mature markets, often reflecting a large number of buyers and sellers. Liquid markets also facilitate new entry by making it easier to buy and sell gas at a good price. For example, in a liquid market a new supplier can more easily enter the market and buy the gas they need to cover their consumers’ demand whilst also having confidence in the price they are paying for that gas.  

Methodology

Churn ratios are calculated by dividing the total gas volumes traded by the total amount of gas delivered.

Trading data is based on total volumes from over-the-counter trading (from the LEBA trade association) and the major gas exchanges (ICE and ICE Endex). 

Physical delivery data is sourced from National Grid.

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Chart

Source: BEIS, ICE, ICIS, N2EX & APX.

Information correct as of: April 2019

The chart shows total monthly volumes of electricity traded in GB across different trading platforms. The churn ratio is also shown. ‘Churn’ is the number of times one unit of electricity is traded.

Policy Areas:

  • Electricity - wholesale markets

Data Table

Electricity trading volumes and churn ratio by month and platform (GB)
DateChurnN2EXEPEX SPOTICEOTC
01/01/20103.50.351.162.98114.5
01/02/20103.90.51.420.76113.46
01/03/201040.51.840.43118.9
01/04/20104.90.181.190.56126.67
01/05/20104.31.731.370.48109.05
01/06/20103.81.661.760.6689.44
01/07/20103.41.581.372.5180.92
01/08/20102.51.641.380.1458.95
01/09/20102.62.41.880.9459.19
01/10/20102.52.71.430.2965.37
01/11/20102.73.191.760.4174.34
01/12/20101.83.072.380.2257.24
01/01/20112.42.81.770.6373.72
01/02/20113.62.591.641.1998.62
01/03/20114.42.542.081.51128.35
01/04/20112.82.581.830.2164.68
01/05/20112.12.871.820.0548.82
01/06/20113.53.622.170.6979.88
01/07/20113.43.081.670.5678.67
01/08/20113.72.471.711.286.89
01/09/20113.53.392.061.2781.8
01/10/201134.921.90.5973.12
01/11/20113.56.432.062.9386.51
01/12/201128.342.651.2548.31
01/01/20123.27.891.681.9988.61
01/02/20123.59.191.511.0393.33
01/03/2012310.861.791.3170.23
01/04/20122.17.241.240.8147.74
01/05/20123.37.371.252.177.04
01/06/20123.311.561.610.2666.01
01/07/20123.211.71.30.9164.2
01/08/20122.912.421.431.1456.57
01/09/20122.816.611.732.0149.5
01/10/20122.711.871.390.6259.66
01/11/20122.611.291.50.2862.18
01/12/2012214.72.070.8443.73
01/01/20133.111.691.780.9883.68
01/02/20133.611.781.580.5889.65
01/03/20132.414.5321.1755.62
01/04/20132.510.962.050.2653.81
01/05/20132.910.232.050.1761.17
01/06/20133.112.382.030.8656.48
01/07/20132.910.131.870.2658.21
01/08/20133.19.951.750.2762.02
01/09/20133.213.181.850.6662.1
01/10/20133.511.011.910.5179.34
01/11/20132.611.561.90.5560.32
01/12/20132.215.031.880.6545.88
01/01/20143.411.431.730.7389.98
01/02/20143.511.281.620.8882.6
01/03/20143.613.612.030.3986.67
01/04/20144.511.831.970.1899.72
01/05/20143.411.52.140.2471.51
01/06/20143.710.661.810.1570.21
01/07/20143.610.661.970.2272.53
01/08/20143.69.52.270.1471.84
01/09/20143.610.112.10.173.68
01/10/20143.111.32.760.2668.6
01/11/20142.911.762.730.4465.37
01/12/20142.412.423.020.6253.51
01/01/20153.312.513.190.9987.8
01/02/20154.110.135.071.3796.59
01/03/20153.69.44.741.4788.79
01/04/20152.88.65.070.2853.44
01/05/20152.68.895.410.5946.98
01/06/201538.015.180.5455.62
01/07/20153.98.035.31.0478.31
01/08/20153.18.395.020.7857.81
01/09/20153.68.285.390.772.31
01/10/20153.89.195.420.883.46
01/11/20153.49.395.770.9278.29
01/12/20152.99.226.05171.23
01/01/20164.79.836.691.28122.35
01/02/2016511.946.81.21117.91
01/03/2016413.527.640.3789.79
01/04/20164.38.243.931.1997.36
01/05/20164.88.254.11.3898.38
01/06/20164.37.913.870.7782.87
01/07/20163.68.174.10.9267.05
01/08/20163.58.073.942.1664.78
01/09/20166.38.133.774.3127.37
01/10/20166.28.973.912.57139.45
01/11/20165.89.654.135.29141.76
01/12/20163.89.354.263.2589.34
01/01/20174.210.625.592.17107.06
01/02/20173.48.965.061.378.15
01/03/20172.99.455.251.0565.19
01/04/20172.58.894.950.2343.27
01/05/20175.28.544.770.72108.54
01/06/20173.88.424.850.3870.81
01/07/201749.525.110.0776.83
01/08/20173.89.445.440.1370.25
01/09/201759.365.50.6896.68
01/10/20173.99.556.480.5579.14
01/11/20172.910.46.370.660.85
01/12/20172.711.016.310.0659.57
01/01/20182.911.286.090.1167.64
01/02/20182.910.595.820.1960.93
01/03/20183.610.486.490.0476.84
01/04/20183.29.55.670.264.67
01/05/20184.79.425.360.0892.41
01/06/20183.98.634.950.1472.6
01/07/20183.29.065.020.1259.1
01/08/20184.39.035.250.0481.71
01/09/20184.99.055.590.1394.69
01/10/20184.310.476.070.1289.14
01/11/20183.811.156.210.1583.80
01/12/20182.611.586.280.0653.14

More information

Electricity trading volumes and churn ratio: At-a-glance summary

There is a diverse range of products and platforms available for those looking to trade power in GB. However, the majority of electricity trades are still done over-the-counter (OTC). Baseload products persistently dominate; accounting for the vast majority of OTC traded volumes. Since the implementation of our Secure and Promote Licence Condition there has been an increase in the number of times units of power are traded before delivery (churn), indicating a slight improvement in churn. 

Relevance and further information

Churn is one metric used to assess market liquidity. It shows how often a unit of electricity is traded before it is delivered to end consumers. Liquidity is an important feature of mature markets, often reflecting a large number of buyers and sellers.

Liquid markets also facilitate new entry by making it easier to buy and sell electricity at a good price. For example, in a liquid market a new supplier can more easily enter the market and buy the electricity they need to cover their consumers’ demand whilst also having confidence in the price they are paying for that electricity.

Volumes on the respective platforms tend to reflect the time horizon of the contracts traded and are not reflective of the total contribution to market liquidity. 

Methodology

Churn ratios are calculated by dividing total traded electricity volumes by the total amount of electricity demanded.

Trading data are based on total volumes from over-the-counter trading (sourced from ICIS) and the major electricity exchanges (ICE, EPEX SPOT and N2EX)

Physical demand data is sourced from BEIS Energy trends.

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Chart

Javascript is required to render chart Spark and dark spreads (GB).

Source: Ofgem analysis of data from ICIS and Bloomberg.

Information correct as of: April 2019

The chart shows clean spark and dark spreads in GB. These indicate the average revenue a power station can expect from generating a unit of electricity during ‘baseload’ operation, after fuel and carbon costs. 

Clean spark spreads refer to gas generation and clean dark spreads refer to coal generation. 

Policy Areas:

  • Electricity - wholesale markets

Data Table

Spark and dark spreads (GB)
DateSpark (low eff)SparkSpark (high eff)DarkPower price (baseload)
01/10/20076.049.2315.481.9143.82
01/11/200713.7517.4424.6512.7157.35
01/12/20075.759.617.125.351.24
01/01/200810.3514.3622.1910.2157.73
01/02/20088.0611.8719.312.7453.08
01/03/20086.4610.5618.574.554.92
01/04/200814.0618.6927.7616.7768.85
01/05/200819.624.0532.7414.9572.18
01/06/200831.8336.5945.8821.488.01
01/07/200834.3338.9247.8818.5588.53
01/08/200834.1238.2546.3115.8282.86
01/09/200844.4949.6659.7640.47105.58
01/10/200836.3940.6849.0637.0587.06
01/11/200821.1525.2433.2525.7669.56
01/12/200812.5216.724.8922.2162.01
01/01/200910.3914.7423.2423.7761.79
01/02/20095.618.9915.5911.9745.52
01/03/20096.699.1313.915.2735.58
01/04/20098.6210.9115.383.4335.67
01/05/20099.812.0116.333.5635.93
01/06/200910.1612.2616.373.8734.98
01/07/200911.7313.6117.292.6433.97
01/08/200911.9613.817.41.0533.72
01/09/200912.4414.1517.50.2532.68
01/10/200911.3613.4217.451.3835.72
01/11/20098.2410.3914.6-0.5333.68
01/12/20096.799.2313.990.6135.57
01/01/20105.017.9513.723.339.85
01/02/20104.196.8712.121.8335.92
01/03/20105.638.0912.91-0.0134.75
01/04/20106.929.4514.41-0.2236.88
01/05/20106.059.0314.87-0.5641.33
01/06/20104.978.1114.26-0.6942.12
01/07/20103.837.1913.752.7743.53
01/08/20102.725.8712.03-0.0739.95
01/09/20104.94813.980.1341.12
01/10/20103.286.6813.330.4143.5
01/11/20103.587.214.282.1146.4
01/12/20105.9810.3818.999.358.03
01/01/20110.974.9912.840.248.43
01/02/20110.634.5112.09-0.3946.47
01/03/2011-0.174.212.730.7451.41
01/04/20111.485.6613.82-1.0650.86
01/05/20111.135.2913.420.2350.27
01/06/20111.175.3713.581.4750.82
01/07/20111.665.5813.240.5347.96
01/08/20112.025.8613.360.4247.36
01/09/20113.487.2714.690.8848.32
01/10/20110.674.5712.212.4246.83
01/11/2011-1.182.8310.653.8546.15
01/12/2011-1.512.39.753.3343.54
01/01/2012-1.442.259.463.8442.17
01/02/2012-3.41.059.7311.6649.1
01/03/2012-1.272.6910.459.5145.64
01/04/2012-1.882.1610.0711.1545.91
01/05/2012-1.632.229.7311.8543.79
01/06/2012-1.961.789.099.6242.24
01/07/2012-1.851.929.299.3142.71
01/08/2012-2.571.148.386.7641.21
01/09/2012-4.98-0.897.1110.5943.39
01/10/2012-3.780.579.0615.4647.6
01/11/2012-3.211.29.8415.8949
01/12/2012-2.511.9110.5617.4249.76
01/01/2013-2.481.9610.6319.549.96
01/02/2013-2.412.1411.0520.0351.44
01/03/2013-4.191.4912.5832.8662.9
01/04/2013-5.13-0.358.9817.1651.3
01/05/2013-4.50.028.8515.5148.89
01/06/2013-2.052.1310.2915.2447.31
01/07/2013-4.250.238.9916.148.73
01/08/2013-5.3-0.857.8515.4747.31
01/09/2013-4.020.529.3916.5949.63
01/10/2013-4.86-0.378.4114.8248.22
01/11/2013-2.312.3711.532053.05
01/12/2013-5.46-0.78.6117.9250.81
01/01/2014-5.43-0.937.8514.9747.67
01/02/2014-3.740.48.4812.9845.15
01/03/2014-2.581.399.1712.8144.41
01/04/2014-1.741.949.136.6741.77
01/05/2014-0.3839.624.7639.62
01/06/20140.963.989.892.2736.67
01/07/20141.174.079.740.6435.46
01/08/20141.274.3710.441.7137.97
01/09/20140.684.2811.337.4843.28
01/10/20140.74.4311.739.344.81
01/11/20140.724.7612.6511.748.43
01/12/2014-2.871.098.847.8343.96
01/01/2015-1.212.269.067.1439.86
01/02/2015-1.891.889.258.6242.68
01/03/2015-0.912.629.527.6140.8
01/04/2015-1.042.7810.232.7144.03
01/05/2015-1.71.939.010.4841.13
01/06/2015-0.573.0210.031.0841.84
01/07/2015-0.353.2510.291.4542.2
01/08/20151.124.4911.080.8140.99
01/09/20151.264.7311.52.3442.23
01/10/20150.473.8410.430.8840.3
01/11/20151.244.3710.48-1.3238.2
01/12/2015-0.622.48.29-3.1735
01/01/20163.035.8911.47-0.836.8
01/02/20162.154.8110.01-2.533.59
01/03/20163.546.1911.38-1.5434.92
01/04/20162.515.1810.38-3.1333.99
01/05/20162.285.0210.37-3.2734.64
01/06/20162.255.2211.03-2.337.37
01/07/20163.456.4112.18-4.4838.37
01/08/20164.527.2312.51-7.0536.47
01/09/201623.0725.6330.638.7853.32
01/10/201619.4322.9629.858.3661.12
01/11/201623.7527.6335.2114.6869.6
01/12/20166.8410.6117.98-1.2251.42
01/01/20173.667.8516.05-0.9353.23
01/02/20171.625.6713.6-2.4549.56
01/03/20171.965.3712.04-7.542.26
01/04/20172.956.2712.74-7.5642.1
01/05/20172.445.7312.14-7.5341.24
01/06/20174.127.1313.01-11.3639.68
01/07/20176.329.4315.5-9.2243.05
01/08/20171.615.1412.06-10.7643.4
01/09/20172.436.2213.62-8.9247.17
01/10/20172.366.1313.48-10.2846.82
01/11/20171.185.4313.75-5.9151.45
01/12/20171.856.4615.47-1.4856.35
01/01/20182.217.0714.37-6.4250.84
01/02/2018-1.833.7212.05-1.1253.68
01/03/2018-3.542.511.544.0856.79
01/04/2018-0.035.0412.66-6.4350.74
01/05/2018-0.584.913.13-8.3754.25
01/06/2018-0.54.9513.13-11.0954
01/07/20180.376.114.68-10.0357.61
01/08/2018-0.026.1815.47-8.4661.94
01/09/2018-3.423.714.36-5.867.69
01/10/2018-0.116.3716.10-6.2864.76
01/11/2018-0.915.4014.86-4.1562.19
01/12/20180.196.6016.22-6.8564.32

More information

Spark and dark spreads: At-a-glance summary

Spark spreads have improved over the last three years and gas generation has been more profitable than coal since mid-2015, with higher clean spark spreads relative to clean dark spreads. This has led to more gas plants producing electricity. With the power price remaining broadly flat, the improvement has come from a falling gas price.

The chart shows an inversion in this trend for March 2018. This was due to both a decrease in coal prices and a dramatic surge in gas prices due to temperatures below seasonal normal and a number of outages in this period. As a result, coal-fired generation ran close to maximum capacity.

Relevance and further information

Clean spark and dark spreads give some insight into the profitability of coal and gas-fired generation. As such this is a good indication of which kinds of plants are likely to operate or whether investment in new plants is likely.

Methodology

  • Dark and spark spreads are calculated using the following fuel efficiency assumptions. 
  • The efficiencies used are: Dark = 35 %, Spark = 50 %, Spark (high efficiency) = 60 %, Spark (low efficiency) = 45 %.
close

Chart

Source: Ofgem calculations using data from ICIS .

Information correct as of: April 2019

The chart shows summer-winter spreads for the GB gas market. The summer-winter spread is the difference between the gas price in summer compared to the following winter price.

Policy Areas:

  • Gas - wholesale markets

Data Table

Gas summer-winter spreads at the National Balancing Point (GB)
Month beginning2005-062006-072007-082008-092009-102010-112011-122012-132013-142014-152015-162016-172017-182018-192019-202020-21
01/04/200412.111.17
01/05/200412.210.72
01/06/200412.2910.52
01/07/200413.5110.6
01/08/200414.2111.04
01/09/200415.7412.21
01/10/200419.5612.41
01/11/200418.2511.53
01/12/200417.5412.44
01/01/200520.5612.54
01/02/200522.5612.95
01/03/200527.3114.99
01/04/200518.9511.43
01/05/200522.9315.94
01/06/200528.6221.61
01/07/200535.123.67
01/08/200529.4217.95
01/09/200527.6618.64
01/10/200525.0719
01/11/200531.2222.18
01/12/200538.3328.45
01/01/200642.5731.41
01/02/200636.127.45
01/03/200641.1828.4
01/04/200647.4431.2726.7
01/05/200630.9325.98
01/06/200629.0924.08
01/07/200625.4419.99
01/08/200623.7316.36
01/09/200622.4314.78
01/10/200622.0314.88
01/11/200619.5714.57
01/12/200621.5515.3
01/01/200720.8213.69
01/02/200722.4213.01
01/03/200728.7416.04
01/04/200731.211714.4
01/05/200718.6715.22
01/06/200718.314.94
01/07/200716.9114.41
01/08/200715.1812.79
01/09/200714.3612.09
01/10/200713.6810.88
01/11/200713.8910.8
01/12/200714.8611.35
01/01/200816.7612.64
01/02/200817.5814.17
01/03/200817.9315.77
01/04/200815.5912.75
01/05/200815.2413.58
01/06/200817.3712.87
01/07/200819.7713.73
01/08/200821.5315.88
01/09/200820.5116.81
01/10/200818.616.78
01/11/200818.5516.11
01/12/200817.8915.09
01/01/200918.0715.54
01/02/200920.1616.29
01/03/200924.2218.09
01/04/200921.1917.21
01/05/200920.117
01/06/200919.6416.05
01/07/200919.4815.8
01/08/200921.2316.43
01/09/200918.814.21
01/10/200919.8315.25
01/11/200918.5114.93
01/12/200919.2413.75
01/01/201017.6214.09
01/02/201015.1213.86
01/03/201013.0312.39
01/04/201010.8712.2112.02
01/05/201012.3411.71
01/06/201012.0611.54
01/07/201010.910.77
01/08/201010.689.6
01/09/201010.839.61
01/10/201010.739.93
01/11/201010.128.99
01/12/20108.928.52
01/01/20118.737.8
01/02/20119.677.76
01/03/201111.28.38
01/04/20119.279.38
01/05/20119.349.58
01/06/20119.889.71
01/07/201111.3310.23
01/08/201111.9110.14
01/09/201111.349.65
01/10/2011129.59
01/11/201113.4810.33
01/12/201114.5411.33
01/01/201215.7311.98
01/02/201216.2512.72
01/03/201216.6913.18
01/04/201216.112.7311.46
01/05/201212.3511.12
01/06/201211.2710.17
01/07/201210.839.82
01/08/201211.689.78
01/09/201211.199.56
01/10/201210.549.51
01/11/20129.949.72
01/12/201210.169.78
01/01/201310.039.51
01/02/20138.629.02
01/03/20137.969.15
01/04/20137.288.588.25
01/05/20138.347.81
01/06/20138.297.93
01/07/20137.918.14
01/08/20137.548.01
01/09/20137.628.06
01/10/20137.17.88
01/11/20137.087.65
01/12/20137.777.93
01/01/20148.247.99
01/02/20149.898.38
01/03/201411.199.18
01/04/20149.538.6
01/05/20149.918.69
01/06/201410.188.9
01/07/201410.848.95
01/08/201410.259.63
01/09/201410.419.37
01/10/201410.099.01
01/11/20149.278.65
01/12/20148.318.35
01/01/20157.98.61
01/02/20158.028.72
01/03/20157.757.88
01/04/20157.677.06
01/05/20157.97.25
01/06/20157.897.16
01/07/20157.266.84
01/08/20156.816.02
01/09/20156.465.84
01/10/20156.65.85
01/11/20154.794.43
01/12/20155.564.78
01/01/20165.684.84
01/02/20167.035.3
01/03/20167.15.56
01/04/20166.125.51
01/05/20165.644.91
01/06/20165.615.07
01/07/20166.535.58
01/08/20166.445.69
01/09/20166.235.73
01/10/20166.475.84
01/11/20166.135.79
01/12/20166.935.95
01/01/20176.335.88
01/02/20176.896.68
01/03/20177.887.95
01/04/20178.077.73
01/05/20177.867.7
01/06/20178.497.97
01/07/20179.328.87
01/08/20179.39.2
01/09/20179.349.05
01/10/20179.229.2
01/11/20179.259.44
01/12/20179.9810.67
01/01/201810.6810.66
01/02/20189.8110.49
01/03/20189.6210.78
01/04/201810.7410.8
01/05/201810.610.93
01/06/20189.8510.61
01/07/20189.910.64
01/08/20189.5410.62
01/09/20189.1310.39
01/10/20189.8410.75
01/11/20189.9610.23
01/12/20189.819.86

More information

Gas summer-winter spreads: At-a-glance summary

Summer-winter spreads have fallen significantly over the past decade and continue to remain low. The spreads for 2019-20 and 2020-21 are currently low by historical standards.These lower spreads are at least partly because of increased imports from other capacity. Much of our new import capacity is able to operate flexibly. It can often be a substitute for storage in being able to respond to dynamically to variations in price.

Relevance and further information

The summer-winter spread is an important indicator of trends in the profitability of long-range or seasonal gas storage. This is because gas storage facilities generally make money by injecting gas when the price is low (i.e. in summer) and withdrawing it when the price is high (i.e. in winter).

Methodology

The summer-winter spread is calculated by subtracting the average contract price of quarters two and three from the contract price of the following quarter one in a given year.

close

Chart

Source: ICIS data & Ofgem calculations.

Information correct as of: April 2019

This chart shows the monthly average of volatility for GB gas, electricity baseload and electricity peakload prices based on Day-ahead contracts.

Policy Areas:

  • Electricity - wholesale markets
  • Gas - wholesale markets

Data Table

Price volatility of gas and electricity by month: Day-ahead contracts (GB)
Month beginningElectricity (baseload)Electricity (peakload)Gas
01/01/200399%643%332%
01/02/2003102%635%313%
01/03/200356%232%158%
01/04/200338%135%128%
01/05/200340%177%141%
01/06/200347%216%192%
01/07/2003116%531%111%
01/08/2003159%687%141%
01/09/200384%424%210%
01/10/200356%323%194%
01/11/200360%334%135%
01/12/200377%484%125%
01/01/200490%407%256%
01/02/200494%452%444%
01/03/200439%127%113%
01/04/200428%118%105%
01/05/200430%162%115%
01/06/200442%228%67%
01/07/200435%169%58%
01/08/200418%105%70%
01/09/200418%125%100%
01/10/200443%144%126%
01/11/200456%238%133%
01/12/200442%211%119%
01/01/200546%231%131%
01/02/200537%167%126%
01/03/200581%319%416%
01/04/200532%153%160%
01/05/200517%72%93%
01/06/200526%124%135%
01/07/200546%279%126%
01/08/200517%106%92%
01/09/200529%146%89%
01/10/200533%176%103%
01/11/200550%194%226%
01/12/200579%338%294%
01/01/200670%282%209%
01/02/200659%205%205%
01/03/2006114%436%389%
01/04/200681%331%291%
01/05/200623%94%121%
01/06/200629%145%219%
01/07/200665%302%182%
01/08/200690%444%90%
01/09/200638%190%105%
01/10/200648%227%567%
01/11/200672%297%217%
01/12/200687%328%183%
01/01/200763%294%154%
01/02/200741%194%120%
01/03/200730%154%140%
01/04/200733%167%86%
01/05/200742%219%106%
01/06/200753%290%84%
01/07/200740%181%107%
01/08/200733%129%95%
01/09/200744%172%127%
01/10/200775%248%122%
01/11/200792%413%113%
01/12/200777%363%91%
01/01/200861%266%92%
01/02/200820%102%50%
01/03/200815%70%49%
01/04/200831%156%41%
01/05/200824%111%78%
01/06/200843%234%48%
01/07/200843%203%75%
01/08/200833%160%212%
01/09/200834%149%146%
01/10/200841%156%105%
01/11/200848%212%144%
01/12/200860%277%98%
01/01/200960%275%110%
01/02/200935%151%100%
01/03/200923%98%87%
01/04/200916%66%96%
01/05/200928%102%71%
01/06/200931%109%82%
01/07/200931%112%68%
01/08/200918%65%81%
01/09/200928%111%203%
01/10/200921%92%266%
01/11/200918%93%106%
01/12/200922%89%66%
01/01/201031%127%141%
01/02/201020%50%99%
01/03/201010%42%60%
01/04/201013%51%75%
01/05/201020%77%113%
01/06/201016%60%73%
01/07/201014%59%55%
01/08/201011%52%49%
01/09/20108%34%72%
01/10/201013%47%83%
01/11/201014%56%42%
01/12/201051%239%49%
01/01/201123%112%40%
01/02/20118%30%38%
01/03/201112%37%31%
01/04/201113%40%53%
01/05/20116%26%55%
01/06/20116%26%22%
01/07/20116%31%22%
01/08/20118%32%24%
01/09/201112%48%66%
01/10/201113%65%86%
01/11/201114%51%48%
01/12/20119%44%34%
01/01/201212%43%36%
01/02/201225%108%144%
01/03/201215%70%70%
01/04/201214%50%49%
01/05/201211%42%29%
01/06/201211%54%29%
01/07/201210%39%28%
01/08/20128%34%29%
01/09/201210%34%30%
01/10/201212%43%25%
01/11/201221%87%24%
01/12/201220%70%20%
01/01/201320%80%32%
01/02/201320%79%32%
01/03/201337%125%87%
01/04/201333%119%105%
01/05/201314%42%25%
01/06/201313%44%35%
01/07/201313%45%46%
01/08/201311%29%18%
01/09/201313%35%15%
01/10/201314%51%21%
01/11/201320%75%33%
01/12/201321%73%20%
01/01/201421%77%17%
01/02/201416%60%19%
01/03/201419%53%35%
01/04/201415%47%33%
01/05/201412%41%30%
01/06/201410%35%42%
01/07/201412%53%43%
01/08/201412%53%47%
01/09/201418%74%51%
01/10/201423%89%41%
01/11/201442%187%50%
01/12/201426%108%26%
01/01/201528%90%36%
01/02/201524%97%39%
01/03/201518%74%38%
01/04/201517%51%27%
01/05/201517%48%28%
01/06/201517%50%28%
01/07/201514%47%22%
01/08/201512%37%31%
01/09/201511%41%28%
01/10/201511%43%24%
01/11/201517%64%36%
01/12/201523%71%34%
01/01/201629%115%39%
01/02/201630%149%39%
01/03/201633%170%25%
01/04/201628%121%27%
01/05/201624%117%58%
01/06/201621%96%39%
01/07/201624%104%32%
01/08/201626%126%43%
01/09/2016151%495%131%
01/10/2016182%663%87%
01/11/2016141%638%43%
01/12/201685%425%41%
01/01/201730%167%54%
01/02/201718%89%52%
01/03/201717%79%30%
01/04/201717%69%25%
01/05/201723%126%35%
01/06/201742%189%79%
01/07/201782%371%77%
01/08/201732%130%42%
01/09/201722%100%30%
01/10/201726%94%64%
01/11/201719%94%28%
01/12/201721%82%52%
01/01/201821%81%42%
01/02/201816%76%47%
01/03/201867%248%478%
01/04/201829%128%83%
01/05/201818%95%33%
01/06/201817%66%44%
01/07/201817%71%36%
01/08/201810%54%24%
01/09/201813%63%33%
01/10/201818%58%50%
01/11/201819%81%49%
01/12/201829%134%43%

More information

Price volatility of gas and electricity (Day-ahead contracts): At-a-glance summary

The volatility of Day-ahead gas and power prices has been generally decreasing in recent years. Volatility for both gas and power remained low over the course of 2015 and the first half of 2016, but increased during winter 2016/17.

A sharp increase in the average of volatility for GB gas occured in March 2018, with record high gas prices due to both high demand and supply issues: gas demand reached the highest level in seven years and there were a series of unplanned outages across GB supply infrastructure that increased the gas price further. Since May 2018 volatility for both Gas and Electricity has remained low and stable, hovering between 24% to 50% for gas, and 10 and 29% for electricity.

Relevance and further information

Price volatility is an important market indicator for a range of reasons. For example:

  • Companies with capacity that can flexibly increase or decrease their supply of gas or electricity can profit from high volatility by increasing output when prices are high and decreasing output when prices are low. Such companies include gas storage facilities or conventional coal and gas-fired power stations.
  • High levels of volatility can challenge smaller companies where they are less able to access credit and collateral. 

Methodology

The monthly calculation takes the logarithmical differences of daily average prices across two consecutive trading days. These are used to calculate the relative standard deviation on a rolling monthly basis (21 trading days). 

To show the data in annual terms, the value obtained is multiplied by the square root of the total number of trading days in a year (252 trading days). 

Volatility values are usually expressed as a percentage, so the annual value is finally multiplied by 100. 

All volatility values for a given month are then averaged together to get a single monthly data point.

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Chart

Javascript is required to render chart Number of active domestic suppliers by fuel type (GB).

Source: Ofgem analysis of distribution network operator (DNO) and Xoserve reports.

Information correct as of: April 2019

This chart shows the number of active licensed suppliers in the domestic gas and electricity markets. It also gives a breakdown by those supplying both gas and electricity, and those who supply only one fuel. 

Policy Areas:

  • Electricity - retail markets
  • Gas - retail markets

Data Table

Number of active domestic suppliers by fuel type (GB)
GasElectricity Gas and electricityTotal
Dec 2004101213
Dec 2005101112
Dec 200610910
Dec 2007101011
Dec2008101112
Dec 2009001212
Dec 2010001212
Dec 2011001414
Dec 2012221620
Dec 2013421824
Jun 2014222024
Sep 2014332127
Dec 2014322227
Mar 2015332329
Jun 2015332531
Sep 2015322833
Dec 2015533240
Mar 2016523643
Jun 2016513844
Sep 2016624048
Dec 2016634251
Mar 2017624553
Jun 2017744859
Sep 2017745465
Dec 2017755668
Mar 2018745970
Jun 2018726170
Sep 2018725867
Dec 2018725362

More information

At-a-glance summary

There were 62 active suppliers in the domestic gas and electricity retail markets as of December 2018. These consisted of the six large suppliers and 56 other suppliers, mainly active in both gas and electricity.

From October to December 2018 the number of active domestic suppliers continued to decline.  This was due to no new entry occurring during this period, as well as the exit of five suppliers. For more detail on market entries and exits see the new indicator ‘Supplier entries and exits in the domestic retail energy market’.

In May 2018, Co-operative Energy bought Flow Energy through direct corporate acquisition. Similarly, in September 2018, Octopus Energy acquired Affect Energy. We have recently confirmed that both Flow Energy and Affect Energy have been operating as fully owned, but separately licensed brands, of Co-operative Energy and Octopus Energy, respectively. Accordingly, we have stopped considering Flow Energy as a separate supplier from June 2018 and Affect Energy from September 2018.

Relevance and further information

The number of active suppliers in the GB energy market helps us to understand the dynamics of market concentration over time, as new participants enter; win customers and some existing firms exit the market.

Methodology

We calculate the number of active licensed suppliers (i.e. those with customers) from the information that both network operators and suppliers provide to us. White label suppliers are not included in this number. White label suppliers are organisations without supply licenses that partner with an active licensed supplier to offer gas and electricity using their own brand.

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Chart

Javascript is required to render chart Gas prices: Day-ahead contracts – monthly average (GB).

Source: ICIS.

Information correct as of: August 2019

This chart shows ‘Day-ahead’ gas prices at the GB gas hub (the National Balancing Point) for delivery the following working day. The data is averaged by month rather than by day and covers Q4 2009 to Q1 2019. Further information on wholesale prices can be found in our State of the Energy Market 2018 report

The data comes from ICIS’s price assessment of over-the-counter trading through brokers. A full explanation of ICIS’s methodology is available on ICIS's website.

Policy Areas:

  • Gas - wholesale markets

Data Table

Gas prices: Day-ahead contracts – monthly average (GB)
Month beginningPrice
01/10/200925.18
01/11/200926.99
01/12/200931.42
01/01/201039.77
01/02/201035.78
01/03/201032.14
01/04/201032.79
01/05/201039.49
01/06/201042.15
01/07/201045.94
01/08/201042.61
01/09/201040.77
01/10/201046
01/11/201049.66
01/12/201062.26
01/01/201155.98
01/02/201153.74
01/03/201160.39
01/04/201157.23
01/05/201157.01
01/06/201158.25
01/07/201155.09
01/08/201154.06
01/09/201153.64
01/10/201156.05
01/11/201158.15
01/12/201156.04
01/01/201254.43
01/02/201265.41
01/03/201258.44
01/04/201259.94
01/05/201257.01
01/06/201255.15
01/07/201255.6
01/08/201254.53
01/09/201260.45
01/10/201264.35
01/11/201265.63
01/12/201265.5
01/01/201366.83
01/02/201368.88
01/03/201386.57
01/04/201369.98
01/05/201366.14
01/06/201360.47
01/07/201365.23
01/08/201364.65
01/09/201365.71
01/10/201365.08
01/11/201368.29
01/12/201369.35
01/01/201465.1
01/02/201458.86
01/03/201456.53
01/04/201449.89
01/05/201445.33
01/06/201439.5
01/07/201437.51
01/08/201440.61
01/09/201448.43
01/10/201450.42
01/11/201454.84
01/12/201453.62
01/01/201546.1
01/02/201550.47
01/03/201547.23
01/04/201546.86
01/05/201544.09
01/06/201543.37
01/07/201543.47
01/08/201539.69
01/09/201541.04
01/10/201539.56
01/11/201535.9
01/12/201534.03
01/01/201632.05
01/02/201629.66
01/03/201629.6
01/04/201629.44
01/05/201630.41
01/06/201634.2
01/07/201634.3
01/08/201630.36
01/09/201628.36
01/10/201642.83
01/11/201648.12
01/12/201646.53
01/01/201753.39
01/02/201751.01
01/03/201741.02
01/04/201739.73
01/05/201739.29
01/06/201734.84
01/07/201736.21
01/08/201742.57
01/09/201746.00
01/10/201745.40
01/11/201752.95
01/12/201758.29
01/01/201850.44
01/02/201858.96
01/03/201864.30
01/04/201850.94
01/05/201855.58
01/06/201854.97
01/07/201857.93
01/08/201862.83
01/09/201873.72
01/10/201866.53
01/11/201864.37
01/12/201863.74
01/01/201957.71
01/02/201947.09
01/03/201939.31
01/04/201934.98
01/05/201931.43

More information

Gas prices (Day-ahead contracts): At-a-glance summary

Day-ahead gas prices have been on a broadly upward trend from mid-Summer 2017. However, since October 2018 prices have followed a downward trend. While changes in commodity prices have influenced gas prices upwards until October 2018, mild weather and healthy supply margins have influenced gas prices downwards in recent months.

Relevance and further information

Day-ahead prices are a good indicator of the short-term price of gas in GB. However, Day-ahead prices are just one measure of the price of gas. Suppliers often buy most of their gas months or even years in advance of when it will be delivered. Therefore, Day-ahead prices may not necessarily reflect the price that suppliers will have paid for their gas.

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Chart

Source: ICIS.

Information correct as of: August 2019

This chart shows the price of electricity on the wholesale market in GB for delivery the next working day at a constant ‘baseload’ rate. The data is averaged by month rather than by day and covers around an eight year time period. Further information on wholesale prices can be found in our State of the Energy Market 2018 report

The data comes from ICIS’s price assessment of over-the-counter trading through brokers. A full explanation of ICIS’s methodology is available on ICIS's website.

Policy Areas:

  • Electricity - wholesale markets

Data Table

Electricity prices: Day-ahead baseload contracts – monthly average (GB)
Month beginningPrice
01/06/201042.18
01/07/201043.53
01/08/201039.95
01/09/201041.12
01/10/201043.5
01/11/201046.4
01/12/201058.03
01/01/201148.43
01/02/201146.47
01/03/201151.41
01/04/201150.88
01/05/201150.27
01/06/201150.82
01/07/201147.96
01/08/201147.36
01/09/201148.32
01/10/201146.83
01/11/201146.15
01/12/201143.54
01/01/201242.17
01/02/201249.1
01/03/201245.64
01/04/201245.91
01/05/201243.79
01/06/201242.24
01/07/201242.71
01/08/201241.21
01/09/201243.39
01/10/201247.6
01/11/201249
01/12/201249.76
01/01/201349.96
01/02/201351.44
01/03/201362.9
01/04/201351.3
01/05/201348.89
01/06/201347.31
01/07/201348.73
01/08/201347.31
01/09/201349.63
01/10/201348.22
01/11/201353.05
01/12/201350.81
01/01/201447.67
01/02/201445.15
01/03/201444.41
01/04/201441.77
01/05/201439.62
01/06/201436.67
01/07/201435.46
01/08/201437.95
01/09/201443.28
01/10/201444.81
01/11/201448.43
01/12/201443.96
01/01/201539.86
01/02/201542.86
01/03/201540.91
01/04/201543.97
01/05/201541.21
01/06/201541.66
01/07/201542.2
01/08/201540.86
01/09/201542.04
01/10/201540.29
01/11/201538.01
01/12/201535.07
01/01/201636.95
01/02/201633.85
01/03/201634.76
01/04/201634.37
01/05/201634.61
01/06/201637.51
01/07/201638.4
01/08/201636.51
01/09/201651.13
01/10/201656.03
01/11/201667.54
01/12/201649.87
01/01/201753.37
01/02/201749.49
01/03/201741.99
01/04/201742.10
01/05/201741.24
01/06/201739.68
01/07/201743.05
01/08/201743.34
01/09/201747.17
01/10/201746.68
01/11/201751.45
01/12/201756.18
01/01/201850.84
01/02/201853.68
01/03/201856.79
01/04/201850.74
01/05/201854.25
01/06/201854.00
01/07/201857.61
01/08/201861.94
01/09/201867.69
01/10/201864.76
01/11/201862.19
01/12/201864.32
01/01/201962.55
01/02/201950.27
01/03/201944.96
01/04/201943.87
01/05/201941.35

More information

Electricity prices (Day-ahead, baseload contracts): At-a-glance summary

Electricity wholesale prices in GB over the past decade have largely been driven by changes in the gas price. This is because gas-fired generation is often the marginal source of supply and hence sets the electricity price. Changes in carbon prices have also influenced electricity prices in recent years.

Relevance and further information

Day-ahead prices are a good indicator of the short-term price of electricity in GB. However, Day-ahead prices are just one measure of the price of electricity. Suppliers will often buy most of their electricity months or even years in advance of when it will be delivered, so Day-ahead prices may not necessarily reflect the price that suppliers will have paid for their electricity.

The ‘baseload’ rate refers to a contract for electricity that is produced continually throughout the day and is distinct from ‘peak rates’ when electricity is bought/sold for consumption at peak times (7am to 7pm).  

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