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Utility SwopShop Weekly Market Insights Week Ending 23rd January
Gas
UK gas prices declined on Thursday. The NBP spot price slid 5.5% to 99.20 p/therm as updated forecasts pointed to warmer weather. Meanwhile, the Summer 2026 contract fell 2.4% to settle at 74.18 p/therm, reflecting continued market caution amid lingering geopolitical uncertainties, even as the USA and NATO countries moved toward a deal over Greenland.
Power
UK spot power price rallied by 9.7% to close at 97 GBP/MWh, supported by reduced renewable generation. Further out on the curve, the Summer 2026 contract slipped by 0.6% to settle at 75.94 GBP/MWh, following weakness in gas markets.
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