Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 19th September
Gas
The UK spot gas price jumped by 3% to 80.90 p/therm on Thursday, lifted by supply outages in Norway and forecasts for lower temperatures that are set to raise heating demand. Further along the curve, the Winter 2025 contract rose by more than 1% to 87.23 p/therm, bolstered by geopolitical tensions and uncertainty over the EU’s plans to phase out Russian gas imports.
Power
UK spot power price jumped by 60% to 77 GBP/MWh on Thursday, driven by a sharp drop in wind output and strike action in France that cut 1.8 GW of capacity, including 1.1 GW of nuclear generation. Meanwhile, the UK Winter 2025 contract gained more than 1% to end at 84.94 GBP/MWh, supported by stronger gas and carbon markets.
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