Friday, 8 May 2026
Near-term bearish relief on Hormuz pause; nuclear/gas outages cap downside
Prices may ease slightlyCal-27 wholesale: £81.60/MWh
What's affecting prices
- •Hormuz ceasefire/pause in US-Iran hostilities easing near-term LNG supply anxiety
- •QatarEnergy force majeure extended to mid-June keeping LNG market tight
- •Heavy UK nuclear outage window (Hartlepool 1 unplanned + Heysham/Torness/Sizewell B schedule)
- •Norwegian gas supply constrained: SAGE offline, Bacton Shell 9-13 May (~57 mcm/day lost)
- •UK wind ~4.9 GW (sub-15% mix), temperatures ~2°C below seasonal norm into mid-May
Wholesale pricing based on ICE forward settlements; non-commodity charges from NESO, LCCC, Ofgem and DNO publications. Indicative only — not financial advice.