Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 23rd October
Gas
UK gas prices extended their gains on Thursday as escalating tensions in the Middle East heightened concerns over energy supplies. Attacks on Saudi Aramco facilities and reports of potential renewed strikes on Iran added to market uncertainty, while fears that disruptions in the Strait of Hormuz could last longer than anticipated raised risks to LNG shipments. The NBP spot contract climbed 2.6% to 220.40 p/therm, while the Summer 2027 contract advanced 1.5% to 170.95 p/therm.
Power
The UK spot electricity price jumped by 7.4% to 162.95 GBP/MWh on Thursday, driven by colder temperatures. Further along the forward curve, the UK Q1 2027 power contract gained 1.6% to 177.92 GBP/MWh, following the upward trend in gas prices.
Disclaimer
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