Fact Check: "Wholesale UK gas prices dropped by £17 after conflict news"
What We Know
The claim that wholesale UK gas prices dropped by £17 following news of conflict can be traced back to recent fluctuations in the energy market. According to a report from UK Wholesale Energy Prices, wholesale gas prices saw a significant decline, with day-ahead gas prices falling 8.6% to 125.93p/th from a peak of 144.90p/th on February 10, 2025. This drop was attributed to improved weather forecasts and geopolitical influences, including discussions surrounding peace talks related to the Russia-Ukraine conflict.
Moreover, the report indicated that all seasonal gas contracts experienced an average drop of 8.3% over the same period, suggesting a broader trend of decreasing prices in the wholesale gas market (UK Wholesale Energy Prices).
Analysis
While the claim that wholesale gas prices dropped significantly is accurate, the specifics of the drop require careful examination. The reported decrease of £17 is not explicitly detailed in the sources. The drop from 144.90p/th to 125.93p/th represents a reduction of approximately 18.97p/th, which translates to about £1.90, not £17. Therefore, the claim appears exaggerated.
The source of the claim regarding the £17 drop is not clearly identified, and it is essential to consider the reliability of the information. The UK Wholesale Energy Prices report is a credible source, providing detailed analysis of market trends, while other sources like MoneyWeek discuss broader implications of price changes without specific figures related to the claim.
Additionally, the context of the price drop is crucial. The decline in prices was influenced by various factors, including weather forecasts and geopolitical events, which can lead to volatility in energy prices. This complexity suggests that while prices did drop, attributing the drop solely to "conflict news" oversimplifies the situation.
Conclusion
The claim that wholesale UK gas prices dropped by £17 after conflict news is Partially True. While there was indeed a significant drop in wholesale gas prices, the specific figure of £17 is misleading and not supported by the available data. The actual decrease was closer to £1.90, indicating that while the market did react to geopolitical events, the extent of the price drop was not as dramatic as claimed.
Sources
- Energy bills to fall for millions of Britons as price cap drops ...
- Gas and electricity prices during the 'energy crisis' and beyond
- reclaim vs recycle - WordReference Forums
- UK Wholesale Energy Prices – 17 February 2025
- Will gas and electricity bills fall? 2025 energy price forecast
- UK Natural Gas Price - Chart - Historical Data - News - TRADING ECONOMICS
- mobile phone，telephone，，cell phone又什么不同 - 百度知道
- UK Wholesale Energy, Gas, and Electricity Prices - TEAM
