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Utility SwopShop Weekly Market Insights Week Ending 30th October
Gas
British gas prices moved lower on Thursday, with the NBP spot falling by 3.3% to 241.77 p/therm, as traders took profits after the recent rally to 2022 highs and Norwegian supply stabilised following the Oseberg outage. Further along the curve, the Summer-27 contract declined by 2.5% to 177.20 p/therm, due to profit-taking.
Power
UK spot power prices edged lower on Thursday, with the day-ahead contract falling by more than 5% to 202.20 £/MWh, tracking weaker gas prices. Further along the curve, the Summer 2027 contract declined by 1% to 133.49 £/MWh, following the retreat in gas prices.
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