Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 28th August
Gas
British gas prices strengthened on Thursday, with NBP spot rising 3.7% to 166.50 p/therm, supported by renewed concerns over LNG supply, low European storage levels and strong competition from Asian buyers. On the forward curve, NBP Win-2 contract climbed 3.4% to 163.64 p/therm, as uncertainty over shipping through the Strait of Hormuz continued to bolster the winter risk premium.
Power
UK power prices were mixed on Thursday. UK spot price fell 1.2% day-on-day to 138.90 GBP/MWh, as weaker demand and improved renewable generation eased pressure on the prompt market. Meanwhile, UK Win-26 contract rose 1.7% to 135.38 GBP/MWh, supported by firmer gas prices and renewed concerns over winter supply.
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