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Utility SwopShop Weekly Market Insights Week Ending 17th April
Gas
NBP spot contract rose by 2.5% to 105.50 p/therm on Thursday as the market awaited further progress in Middle East peace negotiations. Forecasts pointing to slightly colder weather across northwestern Europe next week also lent support.
Along the forward curve, the Winter 2026 delivery contract advanced 3% to 107 p/therm, underpinned by low European storage levels and a slowdown in injections following steady builds earlier in April.
Power
The UK spot power price rose by just over 1% to 84.49 GBP/MWh on Thursday, supported by slightly weaker wind generation. However, gains were capped by the expected return of the Torness 2 (595MW) reactor and a broadly well-supplied system.
Further along the forward curve, the UK Winter 2026 power contract surged by around 4% to 92.31 GBP/MWh, tracking the strength seen in gas and carbon markets.
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