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Utility SwopShop Weekly Market Insights Week Ending 25th April
Gas
The British spot gas price fell by more than 2% to 81.81 p/therm on Thursday, as milder weather outweighed reduced LNG send-out, lower domestic production, and higher export levels. On the forward curve, the Winter 2025 contract slipped by 1.5% to 90.70 p/therm, following the European Parliament’s support for a proposal to lower the EU gas storage target from 90% by November 1 to 83% for the period between October 1 and December 1.
Power
The UK spot power price dropped by almost 3% to 82 GBP/MWh on Thursday, as stronger solar output counterbalanced weaker wind production and the postponed return of Hartlepool 2 (595MW).
On the forward curve, the UK Winter 2025 power contract declined by 1% to 82.56 GBP/MWh, following downward trends in gas and carbon markets.
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