Following a few recent spikes in both electricity and gas prices, we’ve now seen a recent fall to somewhat of a plateau, certainly in the electricity market. Gas is tracking the slightly increasing oil prices a little more faithfully, but overall we are now back price levels not seen since 2006-2007 and mid 2005 after the nightmare of the 2008 markets.
For a little perspective, the wholesale makets were at their peak in July 2008 coming in at a hefty 120% higher than current prices. Although prices are not expected to reach those dizzying heights anytime soon, commentators feel that the markets are close to the bottom and with the current recession seemingly past its worst - price rises seem likely.

The dips in the market at present can be put down, in part, to the healthy extra storage spaces being fully utilised in and around the UK, and LNG playing a huge part in the gas sector at present. There were fears that a dispute between the Ukraine and Russia regarding unsettled bills would affect European prices as a whole, as a large portion of imported gas travels to Europe through the Ukraine from Russia, but with this resolved we can breathe easy for the time being.