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Utility SwopShop Weekly Market Insights Week Ending 18th September
Gas
UK gas prices continued their downward correction on Thursday following the sharp gains seen in recent sessions, although Middle East tensions and low storage levels kept the market supported. Supply concerns were heightened by a potential 46.2 mcm/day drop in output from Norway’s Troll field through next Friday, while forecasts for a mild start to winter provided some bearish pressure.
The NBP spot contract fell by 1% to 191.60 p/therm, while the Winter 2026 contract declined 1.6% to 192.64 p/therm.
Power
Strong wind generation pressured the UK prompt electricity market on Thursday, with the spot price falling by 6.6% to 103.95 GBP/MWh.
Further along the curve, the UK Winter 2026 power contract declined 3.3% to 154.59 GBP/MWh, in line with lower gas prices.
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