Utility SwopShop Weekly Market Insights Week Ending 31st January

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Utility SwopShop Weekly Market Insights Week Ending 31st January

Week ending: 31/01/2025

Gas

British near-term gas prices moved upwards on Thursday, driven by colder weather forecasts and increased gas-for-power demand. Hence, NBP spot surged by over 2%, ending at 133.90 p/therm.

Further along the curve, the gas price for Sum-2025 delivery remained steady, closing at 124.13 p/therm, as concerns over low gas storage were balanced by traders taking profits.

Power

The UK spot power price hiked by 13%, ending at 130.70 GBP/MWh on Thursday, supported by a sharp decline in the wind generation outlook and lower interconnector imports from France. Similarly, British forward power prices gained ground due to forecasts predicting colder weather until mid-February 2025. Hence, the electricity price for Sum-25 delivery edged 0.6% higher, settling at 95.93 GBP/MWh.

Disclaimer

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