Forecasted Gas Prices 2020-2023

Since October 2019 wholesale gas prices have fallen sharply. Wholesale gas prices for 2020-2021 are now 40% lower than market values. Compared to wholesale gas costs for 2020-2021, a 20% increase is forecast for delivered gas costs in 2021-2022. Such a large increase is forecast as wholesale costs are forecast to rebound 27% and the CCL charge for gas will increase 15%. If forward wholesale markets retain their current levels and network charges remain as forecast and CCL rises a further 15%, delivered costs will rise 10% for 2022-2023 compared to 2021-2022.