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Utility SwopShop Weekly Market Insights Week Ending 22nd August
Gas
British gas prices advanced further on Thursday, with the NBP spot rising 3% to 82.70 p/therm amid strong demand to replenish storage ahead of winter. On the forward curve, the Winter 2025 contract added more than 3%, closing at 88.85 p/therm, supported by heightened geopolitical risks in the Middle East and ongoing tensions between Russia and Ukraine.
Power
In the British power market, the spot price gained nearly 3% to 82.20 GBP/MWh, supported by lower wind output. Further along the curve, the UK Winter 2025 delivery contract gained 2.7% to settle at 84.08 GBP/MWh, tracking bullish gas prices.
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