Sunday, 3 May 2026
Bullish near-term: wind lull + nuclear outages + Norwegian supply tightening underpin prompt
Prices rising sharplyCal-27 wholesale: £81.60/MWh
What's affecting prices
- •Wind generation drop through bank holiday weekend, gas-for-power demand +~10 mcm/day
- •Nuclear outage cluster: Torness (from 1 May), Heysham 1-2, Heysham 2-8, Sizewell B units later in May
- •Norwegian gas supply tightening: SAGE offline 6 May (-57 mcm/day), Bacton Shell 9–13 May
- •Strait of Hormuz partial closure constraining ~1/5 of global LNG supply, though Iran diplomatic signals cap upside
- •UK/NW Europe temperatures dipping below seasonal norms post-bank holiday, lifting heating demand
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.