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Utility SwopShop Weekly Market Insights Week Ending 20th March
Gas
Iranian strikes on Qatar’s key LNG export facility pushed British spot gas price up by 13% to 153.50 p/therm on Thursday, as concerns over a potential prolonged disruption to global supply intensified, while the Summer 2026 contract climbed by more than 13% to 152.42 p/therm, reflecting expectations that war-related disruptions will persist.
Power
UK spot power price spiked by 22% to 137 GBP/MWh on Thursday, supported by persistently low wind generation for a third consecutive day and lower temperatures boosting domestic demand. Further along the curve, the UK Summer 2026 contract jumped by about 8% to 108.87 GBP/MWh, tracking firmer gas prices.
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