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Utility SwopShop Weekly Market Insights Week Ending 11th July
Gas
UK gas prices rose on Thursday, with NBP spot price climbing by 2.3% to 84.20 p/therm, driven by stronger demand amid rising temperatures across the Continent.
Further along the curve, the Winter 2025 gas contract gained 1.7% to reach at 95.09 p/therm, supported by upbeat sentiment surrounding ongoing US-EU trade talks.
Power
Thursday saw mixed signals in UK energy costs, with the electricity spot price declining by 1.1% to 83.76 p/therm, driven by a technical correction. However, prices were indirectly supported by lower French nuclear output.
Conversely, the Winter 2025 power contract rose by 1.5% to 85.67 p/therm, supported by the overall strength in gas and carbon markets.
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