Business Energy Broker
Utility SwopShop Weekly Market Insights Week Ending 5th June
Gas
UK near-term gas contracts rose on Wednesday due to lower domestic production, reduced flows through the FLAGS pipeline, and the start of strike action in parts of the UK offshore sector. However, the upward price movement was limited by weaker demand. As a result, the NBP spot contract advanced by 2% to 118.50 p/therm. Further along the curve, the Winter 2026 contract increased by 2% to 119.86 p/therm, supported by ongoing U.S.–Iran tensions and renewed military incidents between the two countries.
Power
Stronger wind and solar generation dragged the British day-ahead power price down by 30% to 67.79 GBP/MWh on Wednesday. In contrast, the Winter 2026 electricity contract closed at 103.60 GBP/MWh, gaining 1.5%, as a stronger gas market supported forward power prices.
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