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Utility SwopShop Weekly Market Insights Week Ending 14th February
Gas
British near-term gas prices plummeted on Thursday, with NBP spot edging about 8% lower at 128.65 p/therm, partly driven by improved wind and temperature forecasts for late February into March, which triggered speculative selling and amplified the decline.
Along the forward curve, the gas price for Sum-25 delivery plunged by 8% to 122.84 p/therm amid rumors that negotiations between U.S. President Donald Trump and his Russian counterpart Vladimir Putin could bring an end to the war in Ukraine.
Power
British near-term power prices declined on Thursday amid higher renewable generation and lower demand. As a result, the spot price retreated by 2% to 126.48 GBP/MWh.
Further out the curve, the power price for Sum-25 delivery tumbled by 7% to 95.52 GBP/MWh, tracking bearish gas prices.
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