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UK Energy Market Summary to Friday 25th July 2025
Closing prices 25.07.2025
The NBP spot price dropped by around 1% to 2.7 p/kWh on Tuesday, pressured by ample supply and stable demand, with bearish weather forecasts adding to the downside.
British gas prices dropped sharply on Thursday, driven by technical selling in a subdued market. The NBP spot price slumped by nearly 5% to 2.6 p/kWh as extended maintenance at Norway’s Troll field reduced availability by around 15 mcm/day. Further along the curve, the Winter 2025 delivery contract held steady at 3.1 p/kWh, amid ongoing injections into European gas storage that are on track to meet EU targets.
At time of writing, European gas storage levels are 67% full, with the UK 32% 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 17%, solar 10% and nuclear accounting for 17%. Below summarises curve prices as at close of business on Friday.
Curve UK Gas & Electricity Markets
Other Energy Markets
Crude oil prices retreated for a third straight session on Tuesday, weighed by fading hopes for U.S. trade deals with Europe and India, raising concerns over economic growth in key oil markets.
Technical support pushed European carbon prices higher on Thursday, alongside optimism over a potential 15% tariff agreement between the EU and the US.