Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 24th October
Gas
The UK spot electricity price fell sharply by 40% to 47 GBP/MWh on Thursday, weighed down by expectations of a significant increase in wind and solar output. Meanwhile, on the forward curve, the UK Summer 2026 power contract edged up more than 1% to approximately 72 GBP/MWh, following strength in gas markets.
Power
British near-term gas prices climbed on Thursday as market participants reacted to the EU’s formal approval of a Russian LNG ban from 2027, coupled with anticipated short-term demand growth. Consequently, the NBP spot price gained around 2%, reaching 77.90 p/therm. On the forward curve, the Summer 2026 delivery contract also rose 2% to 77.16 p/therm amid supply concerns.
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