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Utility SwopShop Weekly Market Insights Week Ending 7th August
Gas
The NBP spot contract jumped by 5.8% on Thursday to 137 p/therm following an unexpected outage at Norway’s Åsgard field, which reduced gas flows to continental Europe by around 6 mcm/day.
Further along the forward curve, the Winter 2026 gas contract gained 6% to 136.73 p/therm, as ongoing concerns over constrained LNG supply and European storage levels at just 58% ahead of winter continued to support prices.
Power
The UK spot electricity price climbed by 2% on Thursday to 113.34 GBP/MWh, as a forecast drop in wind generation of 3.5 GW, pushing output below seasonal averages, tightened short-term supply conditions.
Further along the forward curve, the UK Winter 2026 power contract increased by 3.8% to 116.59 GBP/MWh, following gains in gas markets.
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The contents of this webpage, such as text, graphics, images, and other material contained on the Utility SwopShop Ltd Site (“Content”) are for informational purposes only and are designed to provide market information based on market information available from energy suppliers in the UK. The Content is not intended to be a substitute for energy market professional advice and does not provide contract pricing for the delivered price of energy but does provide an indicator of the current wholesale commodity elements of the delivered price