Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 1st August
Gas
UK gas prices showed a neutral to mildly bullish trend on Thursday, with the NBP spot price at 83 p/therm. Stronger Continental demand, sustained storage injections, and lower LNG sendout counterbalanced softer gas-for-power demand and improved supply.
On the forward curve, the Winter 2025 contract edged 0.1% higher at 94.77 p/therm, supported by the previous day’s announcement of revised US tariff measures
Power
UK power forward prices were stable-to-bearish, with the Winter 2025 contract at 86.89 EUR/MWh, influenced by a similar evolution in carbon prices. In contrast, an increase in renewable generation pressured the spot electricity price, which fell by 9.3% to 75.23 p/therm.
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