Wholesale gas prices remain 30% lower than the same time last year as a result of continued low demand, high storage levels and plentiful supply, according to the latest Wholesale Market Report by Irish energy supplier Vayu – - prices traded at 4 year lows during early June. Temperatures throughout the UK are expected to remain at seasonal normal levels throughout July so demand in general is set to remain at or below seasonal norms, despite a small resurgence in electricity generation demand. Gas in storage in the UK market, which is the major source of gas supply into Ireland, is currently at 83% fullness, compared to 50% at the same time last year. With storage stocks so full, there are few options for where any excess gas in the UK can go.
Irish wholesale gas prices close to 4 year lows