Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 10th July
Gas
UK natural gas prices moved higher on Wednesday, hitting their strongest level in almost a month as a combination of heightened Middle East tensions, increased cooling demand, slower storage injections, and reduced Norwegian pipeline deliveries supported the market. As a result, the NBP spot contract surged by more than 5% to close at 117.25 p/therm. Further along the curve, the Winter 2026 contract rose by almost 5% to end at 120.24 p/therm.
Power
Increased electricity demand due to the heatwave, along with a decline in wind generation and limited nuclear availability amid ongoing outages, pushed the UK day-ahead power price 9% higher to 119.55 GBP/MWh on Wednesday, its highest level in seven weeks. Further along the curve, the Winter 2026 contract advanced by 2.5%, settling at 104.90 GBP/MWh, moving in tandem with the bullish gas market.
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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