Annual Market Report Part 2

Our first part reporting on Spot Prices has been published and the final part focusing on Generation and Demand is coming soon.

During 2022 the Energy Crisis was a significant factor in driving extreme price volatility in the financial markets. Significant events that impacted the market placing significant financial pressure on market participants and gradually consumers were:

increasing global fuel shortages and surging prices
announcements of earlier power station closures
Administered pricing in both electricity and gas spot markets
temporary suspension of the electricity spot market
activation of the Gas Supply Guarantee
unprecedented forward market volatility leading to unprecedented margin calls
record Retailer of Last Resort events caused by Retailers failing
'short-term' market intervention in the form of price caps for both gas and coal

Read on to discover how this rollercoaster of events played out for the energy financial markets in 2022.