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Utility SwopShop Weekly Market Insights Week Ending 13th February
Gas
British gas prices advanced on Thursday. The NBP spot contract rose by 2% to 80.92 p/therm, supported by colder weather forecasts and slightly lower Norwegian pipeline flows, although overall supply remains broadly stable. Further along the curve, the Summer 2026 contract gained 1.7% to close at 72.68 p/therm, as ongoing concerns over depleted storage levels continued to lend support.
Power
In the power market, UK spot price climbed by more than 3% to 84.55 GBP/MWh, driven by declining wind generation and colder temperatures, which increased demand. On the forward curve, the Summer 2026 contract edged 0.3% higher to 67.47 GBP/MWh, tracking firmer gas prices, although sharply lower carbon prices limited further gains.
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