Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 16th October
Gas
UK gas prices strengthened on Thursday, as forecasts of an early cold spell across northeastern Europe and unexpected supply outages at Norway’s Kristin field and St Fergus NSMP raised concerns over gas availability. Hence, the NBP spot price rose slightly by 0.5% to 210 p/therm. Meanwhile, the Summer 2027 contract gained 1% to 161.52 p/therm, reflecting expectations of stronger injection demand next year.
Power
UK day-ahead electricity price soared by 17% on Thursday to 174.70 GBP/MWh. The increase was mainly attributed to weaker wind generation and restricted electricity imports from France due to persistent nuclear and hydro constraints. Further along the curve, the Summer 2027 contract rose slightly by 0.4% to 125.48 GBP/MWh, driven by elevated gas prices and expectations of tighter supply conditions.
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