Wholesale gas prices in the UK fell sharply today, Tuesday August 30. However, the wholesale prices remain 12 times higher than they were at the start of 2021.
The day-ahead UK wholesale price per therm fell by more than than 20% to 447p. And month-ahead contract prices dropped by 25% to 473p per therm, reports The Guardian.
It comes after Business Secretary Kwasi Kwarteng said progress was being made in efforts to reopen the UK’s biggest gas storage facility. And The European Commission vowed to make interventions, including a long-term “structural reform of the electricity market”, while it works “flat out” on an emergency package.
