UK energy and gas prices dropped throughout September as oil, coal and carbon prices decreased. Prices are now similar to levels seen in early August, when oil prices started to increase following escalating tensions in the Middle East. Annual power prices dropped from just below the £50.0/MWh threshold during the month, reaching £48.1/MWh on 24 September. But annual gas prices slipped to 59.6p/th on 12 September.
Despite this downward trend, annual gas and power prices are still 4% higher than the lows seen in July. Annual prices are now around 15% below last year’s figures, and 4% below recent peaks.