Monday, 27 April 2026
UK power bullish near-term; Hormuz risk vs. nuclear outages offset mild wind softness
Prices edging higherCal-27 wholesale: £79.09/MWh
What's affecting prices
- •Strait of Hormuz near-closure disrupting ~20% of global LNG supply; US-Iran talks stalled
- •Heysham 1-1 (130-day planned) and Heysham 1-2 (unplanned) nuclear outages constraining GB generation
- •UK temperatures forecast slightly below seasonal norm this week, supporting gas heating demand
- •NBP front-month ~111p/therm (24 Apr) remains ~42% above year-ago levels despite recent pullback
- •E.ON Next Jul-26 price cap forecast raised to £1,824 (from £1,641), signalling persistent wholesale cost pressure
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.