Energy prices continued to ease through mid-December, supported by strong renewable output, mild demand conditions, and ample gas supply, pushing several forward contracts to multi-year lows.
Strong renewable output, mild temperatures, and rising imports have all been helping to push down UK power prices
Strong wind generation accounted for over 40% of the UK power supply, significantly reducing reliance on gas-fired generation.
Softer demand conditions and improved supply availability have kept short-term power prices subdued.
UK gas prices continued to fall, with front annual contracts reaching their lowest levels since early 2021.
Strong LNG supply and slower storage withdrawals supported downward pressure on prices.
Steady Norwegian flows and a strong pipeline supply backdrop have reinforced confidence across the UK gas market.
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