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Utility SwopShop Weekly Market Insights Week Ending 15th August
Gas
Norwegian supply improvements, following a one-day capacity boost at Nybro, pushed British near-term gas prices lower on Thursday. NBP spot price declined by roughly 3% to 78.17 p/therm. On the forward curve, the gas price for Winter 2025 delivery contract fell 1.5% to 86.53 p/therm, as Europe’s supply outlook brightened amid higher U.S. LNG export flows.
Power
British power prices dropped sharply on Thursday, with the spot price sliding by nearly 10% to just above 81 GBP/MWh, amid forecasts for a significant increase in solar generation. On the forward curve, the Winter 2025 delivery contract mirrored the weakness in gas markets, losing over 1% to close at 82.06 GBP/MWh.
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