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UK Energy Market Summary to Friday 25th April 2025
Closing prices 25.04.2025
The British spot gas price decreased by over 1% to 2.9 p/kWh on Wednesday, driven by an optimistic supply outlook and steady Norwegian flows. The IMF’s downward revision of global growth forecasts put pressure on prices along the forward curve. As a result, the Winter 2025 delivery contract slipped by 0.6% to around 3.1 p/kWh amid growing recessionary concerns.
The British spot gas price decreased by over 2% to 2.8 p/kWh on Thursday, driven by warmer temperatures and increased solar generation .On the forward curve, prices were influenced by a European Parliament vote to reduce the EU-wide gas storage target from 90% by 1 November to 83%.
At time of writing, European gas storage levels are 38% full, with the UK 27% full. European gas storage levels are trending just below the 5-year average throughout 2024. Over the past week gas has accounted for 30% of the UK generation mix with wind accounting for 18%, solar 9% and nuclear accounting for 11%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Reports that OPEC+ may consider accelerating its output hikes in June weighed on crude oil prices on Wednesday. However, losses were limited after news emerged that U.S. President Donald Trump might reduce tariffs on Chinese imports.
European carbon prices rebounded on Wednesday, bolstered by a broader market rally following reassuring overnight signals suggesting a potential softening of US tariffs on Chinese goods. As a result, EUAs expiring in Dec-2025 soared by nearly 4%.