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Utility SwopShop Weekly Market Insights Week Ending 05th December
Gas
UK gas prices dropped on Thursday, with the NBP spot sliding by 6% to 68.10 p/therm, driven by abundant supply as Norwegian pipeline flows increased from 310 mcm/day to 323 mcm/day. On the forward curve, the Summer-2026 contract fell by 3.2% to 64.57 p/therm, weighed down by weak Asian LNG demand and European terminals operating near record throughput of 383 mcm/day, which offset storage levels that remain around 10 percentage points below last year.
Power
The UK spot power price declined by 7.3% to 77.40 GBP/MWh, supported by stronger wind output and milder temperatures. Along the forward curve, the Summer-2026 contract eased 1.6% to 66.29 GBP/MWh, following the downward trend in gas prices.
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