Business Energy Broker
Business Energy Broker
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.
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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