Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 18th July
Gas
The UK spot gas price climbed by 2.3% to 84.90 p/therm on Thursday, supported by tighter supply following unplanned outages at Nyhamna and Kollsnes, which together took 101 mcm/day off the system.
On the forward curve, the Winter 2025 contract fell by 1.2% to 93.13 p/therm, weighed down by easing geopolitical tensions after the EU failed to approve its 18th sanctions package against Russia, with Slovakia requesting exemptions from the bloc’s planned Russian gas phase-out by January 2028.
Power
The UK spot power price jumped by 3.4% to £89.89/MWh on Thursday, boosted by low wind generation.
Further out on the curve, the UK Winter 2025 contract slipped almost 1% to 85.62 GBP/MWh, following downward trends in gas and carbon markets.
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