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Utility SwopShop Weekly Market Insights Week Ending 20th February
Gas
British near-term gas prices spiked on Thursday, with NBP spot trading 12% higher at 79.65 p/therm as traders anticipated possible LNG supply disruptions amid unresolved U.S.–Iran nuclear talks. Along the forward curve, the gas price for Sum-26 delivery surged by 8% to 78.15 p/therm. Geopolitical risk appears to be the dominant factor, with reports suggesting the U.S. could order a strike on Iran as soon as this weekend.
Power
The British spot power price declined by 0.2% to 76.20 GBP/MWh as warmer weather next week is expected to reduce heating demand. Further out the curve, the Sum-26 delivery contract surged by about 5% to 67.69 GBP/MWh, tracking stronger gas prices.
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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