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Utility SwopShop Weekly Market Insights Week Ending 28th February
Gas
British near-term gas prices jumped on Thursday, with NBP spot trading 9% higher at 109.25 p/therm due to a technical rebound after prices fell into oversold levels, driven by increased gas consumption and scheduled maintenance in Norway.
Along the forward curve, the gas price for Sum-25 delivery rebounded by over 8% to 107.42 p/therm as medium-range storage sites are switching back to withdrawal mode.
Power
The British spot power price rose by 2.6% to 99.83 GBP/MWh amid lower renewable energy generation.
Further out, the power price for Sum-25 delivery soared by 8% to 84.99 GBP/MWh, tracking bullish gas and carbon 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