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Utility SwopShop Weekly Market Insights Week Ending 21st February
Gas
British near-term gas prices fell on Wednesday due to reduced demand driven by milder weather and strong wind generation. Hence, NBP spot declined by over 4%, ending at 113.50 p/therm.
Further along the curve, the gas price for Sum-2025 delivery dropped by 2%, to close at 115.13 p/therm as steady LNG imports keep the system well-supplied and storage facilities continue to increase gas reserves. Additionally, headlines news about peace talks involving Russia and the US, and Germany’s exemption from EU gas storage targets added further pressure on prices.
Power
The UK spot electricity price dipped by 12%, reaching 87.49 GBP/MWh on Wednesday amid healthy renewable generation predominantly driven by stronger wind generation.
On the forward curve, the Summer 2025 electricity price declined by 3%, settling at 88.40 GBP/MWh, aligning with lower 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