Wholesale gas and electricity prices continued to rebalance on Thursday with further modest declines. The curve remains very flat, showing only around a 5% difference between 1- and 3-year contracts. September contracts continue to trade below March levels.
Electricity baseload stands at £77/MWh, with gas at 88.25p/therm. On the generation side, renewables accounted for 53% of supply over the past week, with fossil fuels at 29%. This mix pushed prices up to £69/MWh, slightly higher than recent weeks but not of major concern.

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